Last checked at 
8 Jan 2018 15:55
Aberdeen Standard European Logistics Income PLC (LSE: ASLI) (the "Company")
LEI: 213800I9IYIKKNRT3G50
8 January 2018
ACQUISITION OF FIRST ASSET FOLLOWING IPO
FLÖRSHEIM LOGISTICS PARK, FRANKFURT FOR €20.1 MILLION
The Company is pleased to announce that it has exchanged contracts to acquire Flörsheim Logistics Park, Frankfurt for a net value of €20.1 million from SEGRO Zehnte Grundbesitz GmbH.
The acquisition will be funded from existing cash, following the successful launch of the Company on Friday 15 December 2017, with a deal closing expected towards the end of January 2018.
This first investment fits well with the investment strategy given the modern and flexible specifications of the building and the central location in the Frankfurt Rhine-Main area, one of Germany's strongest economic regions with almost 6 million inhabitants. The park is strategically located just five kilometres south west of Frankfurt airport alongside the A3, one of Germany's main cross border motorway routes. Total property size is 17,809 square metres comprising two high quality logistics warehouses newly constructed in 2015 on freehold ground. Flörsheim is fully let to five logistic tenants and benefits from almost full annual rent indexation (CPI) and a weighted average unexpired lease term (WAULT) of 5.5 years.
Evert Castelein, the Company's Fund Manager, commented: "We are very pleased with this first acquisition by the Company. With the support from our local Frankfurt based asset management team we are confident that we can generate a durable income stream from this asset and remain confident about the pipeline of further investment opportunities."
For further information:
Aberdeen Fund Managers Limited
0207 463 6000
William Hemmings
Gary Jones
Jonathon McManus
Canaccord Genuity Limited
0207 523 8000
Will Barnett
Neil Brierley
Dominic Waters
David Yovichic
Notes to Editors
Aberdeen Standard European Logistics Income PLC is a UK investment trust with a premium listing on the Main Market of the London Stock Exchange. The Company invests in European logistics real estate to achieve its objective of providing its shareholders with a regular and attractive level of income return together with the potential for long term income and capital growth. The Company aims to invest in a portfolio of assets diversified by both geography and tenant throughout Europe, predominantly targeting well-located assets at established distribution hubs and within population centres.
The Company launched on 15 December 2017 raising gross proceeds of £187.5m. Portfolio management services are undertaken by Aberdeen Asset Managers Limited.