Aberdeen Standard European Logistics Income PLC - European-focused logistics real estate investor - Says recently signed letter of intent to purchase new warehouse in Poland valued at around EUR26 million.
The investment manager will be entering advanced due diligence with an expected closing of the transaction in the first quarter of 2021. The 34,000 square metre warehouse is expected to provide a net initial yield of 5.5%, is "well located" and will be leased to six tenants with an average weighted average unexpired lease term of more than seven years.
"I am very pleased that the company is now able to announce the expected acquisition of what will be our third property in Poland. This brand-new warehouse, located in central Poland, is strategically located close to a container terminal with easy access to Western Europe," says Evert Castelein, fund manager to ASLI.
Current stock price: 107.50 pence
Year-to-date change: up 19%
By Lucy Heming;Â lucyheming@alliancenews.com
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Abrdn Euro Log (ASLI)