LONDON (Alliance News) - Aberdeen Standard European Logistics Income PLC on Monday said it is pleased with its progress made since its incorporation in December last year.
The trust has made two acquisitions in Germany in the first half of the year, one completed and another due to complete soon.
The first was completed in January for a price of EUR20.1 million and by the end of June, the asset became fully income producing and has already seen appreciation in capital value.
The second property development was bought for EUR33.0 million and is expected to be completed and fully pre-let in September. This deal is expected to complete in early September.
In addition to that, the company intends to acquire five further logistics facilities in Spain, France and the Netherlands, representing a total investment volume of EUR131.4 million. It also sees property acquisition opportunities in Sweden, Germany and Belgium, representing a value of EUR115 million.
The company said it will pay a maiden interim dividend of 0.70 pence per share.
"The board is pleased with the progress made to date, the current pipeline and the opportunities seen across the region by the investment manager's transaction teams," Aberdeen Standard European said in the statement. "The medium to long-term outlook for the logistics sector remains very favourable."
The stock was trading 0.5% higher on Monday afternoon at 104.01p per share.
Abrdn Euro Log (ASLI)