LONDON, UK: abrdn European Logistics Income plc (ASLI) has completed the sale of a 32,645 sqm warehouse in Leon, Northern Spain, to SCPI Iroko Zen for €18.5m, 3% above the 31 December 2022 valuation.
The property was acquired by ASLI for €15.3m in 2018 and is currently leased to Decathlon. This sale marks ASLI’s first disposal, reducing the company’s LTV to 33% and increasing the portfolio’s urban logistics weighting.
The lead fund manager for ASLI, Troels Andersen, commented that the sale “underlines the resilience of the Continental European warehouse sector and continues our portfolio pivot towards more urban assets with strong sustainability credentials.”
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