RCS - abrdn Euro Logistics - Update from QuotedData

abrdn European Logistics Income

23/06/2023 16:51

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RNS Number : 7916D  abrdn European Logistics Income plc  23 June 2023

 

abrdn European Logistics Income - Update from QuotedData

23(rd) June 2023

Riding out the storm

abrdn European Logistics Income (ASLI) is riding out the storm of market
valuation declines, with a focus on managing its portfolio and securing
income. It has recently completed a number of letting renewals across its
portfolio (see page 9) and uncapped, annual inflation-linked rental uplifts on
two-thirds of its leases offer further promise. Evidence that valuations in
the European logistics real estate sector are stabilising is growing, not
least through the sale of an asset from ASLI's portfolio at a small premium to
book value, which should serve to support its net asset value (NAV).

The sale of the mid-box property in Leon, northern Spain, formed part of the
group's strategic pivot to urban logistics properties, where the supply-demand
dynamic is favourable and rental growth prospects are strong. The transaction
improves the company's cash position (thereby lowering its loan-to-value ratio
- LTV) and reduces the company's all-in interest rate to 1.97% - one of the
lowest in the real estate sector (with its first refinancing event not until
mid-2025).

Full Research:

https://quoteddata.com/research/abrdn-european-logistics-income-riding-storm-qd/
(https://quoteddata.com/research/abrdn-european-logistics-income-riding-storm-qd/)

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NB: Marten & Co was paid to produce this note on abrdn European Logistics
Income Plc and it is for information purposes only. It is not intended to
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