Aberdeen Standard Eur Lgstc Inc PLC Completion of Den Hoorn Logistics Acquisition (3557A)
21 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMASLI
RNS Number : 3557A
Aberdeen Standard Eur Lgstc Inc PLC
21 January 2020
Aberdeen Standard European Logistics Income PLC (LSE: ASLI) (the
"Company" or "ASLI")
LEI: 213800I9IYIKKNRT3G50
21 January 2020
COMPLETION OF DEN HOORN (THE NETHERLANDS) LOGISTICS ACQUISITION
AND DEBT FINANCING
Den Hoorn
Following the announcement dated 16 December 2019, the Company
is pleased to confirm that it has completed its acquisition of the
freehold logistics warehouse in Den Hoorn, the Netherlands, for a
net value of EUR49.9 million, providing a net initial yield of
4.5%.
This is a newly built warehouse on a perpetual leasehold with
the option to purchase the freehold from the local municipality.
Built to a modern specification, it is a quality warehouse
providing office and mezzanine space of over 43,000 square metres.
Both LED lighting and solar roof panels add sustainable credentials
to the investment.
The warehouse has an attractive income profile and will be fully
leased to logistics operator A.G. van der Helm Vastgoed Moerdijk
B.V. as its headquarters on a ten year CPI indexed lease.
The warehouse is located centrally within the Randstad region,
the most densely populated area in the Netherlands, close to both
the Hague and Rotterdam with access to the A4 connecting Den Hoorn
with the port of Rotterdam and Schiphol airport. Thanks to its
urban location, the site has attracted strong demand from other
third-party logistics and last-mile delivery operators such as
PostNL and DHL.
Financing
The Company is also pleased to announce that it has finalised
and drawn down long term financing secured on its properties at Den
Hoorn and Zeewolde, the Netherlands. This secured loan facility has
been arranged with Berlin Hyp for a total value of EUR35.7 million
and fixed for an eight year term at an attractive all-in interest
rate. The Company has now fully deployed the funds raised in July
2019 and, following draw down of this facility, the overall
asset-level gearing sits at or around 35 per cent. of gross
assets.
The Board keeps the level of borrowings under review and the
aggregate borrowings will always be subject to the absolute maximum
set at the time of the Company's launch, calculated at the time of
drawdown for a property purchase, of 50 per cent. of gross assets.
The actual level of gearing may fluctuate over the Company's life
as and when new assets are acquired or whilst short term asset
management initiatives are being undertaken.
Evert Castelein, the Company's Fund Manager, commented:
"I am extremely pleased to complete the addition of this newly
built and sustainable asset to ASLI's property portfolio. Following
this acquisition, all funds raised in July have now been fully
deployed. I am very happy with the quality portfolio that we have
built up across five countries in Europe which continues to reflect
the highly sustainable indexed income stream which helps protect
against inflation. Through our local transaction managers, we
continue to see a healthy pipeline of interesting opportunities
across Europe in a variety of logistics locations. Our three most
recent purchases have had an urban focus. We remain keen to
capitalise on opportunities as they arise and further diversify the
portfolio over the next 6 months".
For further information:
Aberdeen Standard Fund Managers Limited
020 7463 6000
Luke Mason
Gary Jones
Investec Bank plc
020 7597 4000
Sales
Dominic Waters
Will Barnett
Neil Brierley
Alice Johnson
Corporate
David Yovichic
Denis Flanagan
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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