Last checked at 
LONDON (Alliance News) - Aberdeen Standard European Logistics Income PLC said on Thursday it has signed an agreement to acquire a logistic warehouse in Spain for EUR15.3 million.
The facility is current in development and is expected to be completed by mid-2019. The total size of the property once completed will be around 32,600 square metres, with 28 loading docks and a 5 tonne floor load capacity.
The warehouse will be fully let to a large international retailer on a fixed ten year lease with a net yield is expected to be 6.0%.
"We are very happy to have signed a purchase agreement for this project, which is located in an ideal position in the North of Spain. This property will be able to generate a sustainable and indexed income stream thanks to the quality of the location, the modern specifications of the asset and the long-term lease," said Fund Manager Evert Castelein.
"We are currently in negotiations with vendors to acquire further properties in Sweden and The Netherlands representing a further investment volume of approximately EUR97 million. The deployment of capital into quality assets so far in France, Germany and Spain underpins our desire for a diverse portfolio invested across Europe and the pipeline of opportunities remains strong," Castelein.
Shares in Aberdeen Standard Income Logistics were down 0.3% at 107.18 pence on Thursday.