abrdn European Logistics Income plc Update from QuotedData
23 Junho 2023 - 12:51PM
RNS Non-Regulatory
TIDMASLI
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/
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June 23, 2023 11:51 ET (15:51 GMT)
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