11th Jul 2025 10:20
(Alliance News) - abrdn European Logistics Income PLC on Friday said it has completed the sale of two German warehouses for EUR66.5 million as it continues to progress its managed wind-down.
The investment trust, which buys and sells European warehouse properties, said it has sold two multi-let warehouses in Florsheim and Erlensee, Germany at a 10% premium to the valuation from the first quarter of 2025.
The properties were sold for an aggregate property value of EUR66.5 million and cover 44,509 square metres in total.
The company said it has reduced its outstanding fixed rate debt to EUR176.8 million with an all-in-interest rate of 2.05%, down from EUR218 million with a 1.93% interest rate at the end of March.
abrdn European Logistics Income said, in line with the shareholder approved managed wind-down, its investment objective is to "realise all existing assets in the company's portfolio in an orderly manner" and return the proceeds to shareholders after paying off debt.
The company confirmed it is in advanced discussions regarding the sale of fifteen further assets, in a mixture of individual disposals and portfolio transactions.
It said it expects to exchange contracts for a number of these disposals in the coming weeks.
Subject to the completion of these sales, the company said it expects to make a second distribution to shareholders by the middle of August.
It said the final seven assets are at "various stages of the sales process" with completion targets from the fourth quarter of 2025 onwards.
"Shareholders are reminded that, as the managed wind-down progresses and further asset disposals are completed, the company's income will decline accordingly. As a result, future dividend payments are expected to reduce and be limited to the level necessary to maintain investment trust status," the company added.
Shares in abrdn European Logistics Income were up 3.4% at 64.10 pence in London on Friday morning.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Abrdn Euro Log