23rd Mar 2018 13:11
LONDON (Alliance News) - Investment manager Aberdeen Standard European Logistics Income PLC announced on Friday the acquisition of Florsheim Logistics Park in Frankfurt for EUR20.1 million.
Florsheim is fully let to five logistic tenants, it benefits from almost full annual rent indexation and it fits well with the company's investment strategy.
Furthermore, the investment manager remains confident in the pipeline of logistics asset opportunities, having recently entered into exclusivity arrangements in respect of two European logistics assets valued at EUR48.5 million in aggregate, and with several other bids pending, the company said.
Lastly, Aberdeen cancelled its share premium account so as to create a new special reserve containing distributable profits. This new reserve may be used by the company to fund, amongst other things, share buybacks.
Shares in Aberdeen were up 1.0% at 102.50 pence on Friday.
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