3rd Oct 2019 11:59
(Alliance News) - Aberdeen Standard European Logistics Income PLC said Thursday it has agreed to acquire a newly built logistics warehouse in Warsaw, Poland, for EUR27.5 million, at a net initial yield of 5.6%.
The European industrial focused-property investor is buying the property from developers Panattoni Development Europe and Marvipol Logistics.
The warehouse comprises two buildings total 24,626 square metres, including 1,959 square metres of office space and one building containing cross-docking facilities.
The main tenant is DHL, a division of German logistics firm Deutsche Post AG. Other tenants include industrial cleaning firm ICS Polska and logistics firm Spedimex.
The acquisition is expected to be completed later in October and will bring Aberdeen Standard's portfolio to 12 assets spread across five European countries.
Shares in Aberdeen Standard European Logistics were up 1.1% at 93.44 pence on Thursday.
By Dayo Laniyan; [email protected]
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