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#ASLI |
#Aheadofthe #Aheadoftheplanned | abrdn European Logistics Income plc (ASLI) announces the sale of three assets as part of its managed wind-down strategy approved by shareholders. The company sold a 12,384 square meter warehouse in Oss, the Netherlands, to the tenant, Orangeworks, for €15.7 million. Additionally, it disposed of two warehouses in Spain, totaling 20,712 square meters, to Fidelity Real Estate Logistics for €29.7 million, 11.9% above the Q3 2024 valuation. The proceeds from these sales will be used to pay down outstanding debts, reducing gearing.
The company also provides an update on its leasing activity, highlighting two new leases in Getafe, Madrid, which reduced vacancy rates and improved the portfolios WAULT. abrdn European Logistics Income is in advanced discussions for another unit and expects further sales by the end of Q2. The Board intends to return capital to shareholders through a bonus issue of redeemable B Shares, pending the realization of investments and the satisfaction of liabilities. Read More@:
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