14th Dec 2021 17:52
Aberdeen Standard European Logistics Income PLC - European-focused logistics real estate investor - Acquires portfolio of newly constructed logistics warehouses in Madrid, Spain for EUR227 million, reflecting a net initial yield of 3.4%.
Portfolio comprises four phase, with one to three comprising seven warehouses and phase four containing one warehouse which is in-development. Portfolio is let to five tenants, with Amazon Europe accounting for 43% of the total rental income.
"Raising equity in September was a significant milestone for the company and reflected our strong conviction in the Continental European logistics proposition. Having stated an ambition to scale the company, this substantial acquisition enables us to invest the equity proceeds within three months and provide shareholders with further exposure to high-quality, well-located logistics assets with inflation protected income," says Chair Tony Roper.
Current stock price: 113.50 pence
Year-to-date change: up 5.3%
By Dayo Laniyan; [email protected]
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