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LONDON (Alliance News) - Aberdeen Standard European Logistics Income PLC said on Friday it has agreed to a seven-year EUR33 million long term debt financing on its properties in France with BayernLB.
The financing follows the completed acquisition of a logistics warehouse in Meung-sur-Loire, central France, for EUR23.5 million at a net initial yield of 4.7%.
The warehouse is fully let to office products supplier Office Depot France SNC.
"The loan arrangement with BayernLB at a very competitive interest rate underlines the quality of the assets and will help the company in its aim to provide shareholders with a regular and attractive level of income return together with the potential for long term income and capital growth," said Fund Manager Evert Castletein.
Shares in Aberdeen Standard European Logistics Income were up 0.4% at 100.87 pence on Friday.