Aberdeen Standard European Logistics Income said it had acquired two warehouse assets in the Netherlands for a combined â¬62.3m and was open to raising more equity in the coming months.

The Zeewolde warehouse was acquired for â¬29.3m and provided a net initial yield of 5.0%.

An agreement with developer Borghese was structured as a forward funded transaction with a 2.55% coupon rate.

The development commenced in September 2018 and had an expected delivery date of 1 June 2019.

The Waddinxveen asset, meanwhile, was bought for â¬33m via a sale-and-leaseback agreement, representing a net initial yield of 5.0%.

The property was leased to Combilo International on a 15-year triple net lease with capped CPI indexation of 2.5% per annum.

'With the exchange of contracts on Zeewolde and Waddinxveen, the company has now invested, or committed to invest, the whole of the net equity proceeds raised at launch in December 2017,' Aberdeen Standard European Logistics said.

'The pipeline of investment opportunities for the company remains strong, with the investment manager at very advanced stages of due diligence on a number of potential acquisitions.'

'As a result the company is also in the process of putting gearing facilities in place, secured on certain properties within the portfolio, to provide financing for additional assets and to fund stage payments that are required for forward funded projects.'

'The board and the investment manager remain confident that the market for European logistics assets will continue to offer many attractive investment opportunities in the future, and the intention remains to seek to grow the company through further equity issuance in the coming months, alongside the deployment of associated debt in accordance with the company's prevailing gearing guidelines.'








At 2:19pm: (LON:ASLI) Aberdeen Standard European Logistics Income Plc Ord 1p share price was -1p at 102.5p