Business
1st Interim Dividend and 31 March 2020 NAV
1st Interim Dividend and 31 March 2020 NAV.
About this update from Abrdn European Logistics Income Plc
[{"type":"text","content":"\n \n \n RNS Number : 8344N\n Aberdeen Standard Eur Lgstc Inc PLC\n 26 May 2020\n \n \n \n \n Aberdeen Standard European Logistics Income PLC\n \n \n \n \n \n LEI: 213800I9IYIKKNRT3G50\n \n \n \n \n \n \n \n \n Net Asset Value as at 31 March 2020 and Dividend Declaration\n \n \n \n \n \n 26 May 2020: \n Aberdeen Standard European Logistics Income PLC\n (LSE: ASLI) (the \"Company\") announces its unaudited quarterly Net Asset Value (\"NAV\") as at 31 March 2020 and declares its first interim dividend for 2020.\n \n \n \n \n \n Highlights\n \n \n \n \n \n · \n NAV per Ordinary share of 112.7c (GBp - 99.92p) as at 31 March 2020 (31 December 2019: 111.0c (GBp - 94.21p)). Exchange rate £1 : €1.13 (31 December 2019: £1 : €1.18).\n \n \n \n \n \n · \n Portfolio capital value has increased by 0.7% since 31 December 2019 (on a like-for-like basis including capital expenditure). The Company's well located and diversified European logistics portfolio of 14 assets was valued at €404.9 million as at 31 March 2020.\n \n \n \n \n \n · \n A fourth interim distribution of 1.27 pence (equivalent to 1.41 euro cents) per Ordinary share in respect of the year ended 31 December 2019 was paid on 27 March 2020.\n \n \n \n \n \n · \n First interim distribution of 1.41 euro cents (equivalent to 1.24 pence) per Ordinary share in respect of the year ending 31 December 2020 declared.\n \n \n \n \n \n At the valuation date of 31 March 2020 Europe was in the early stages of lockdown due to COVID-19 and the investment market had come to a near standstill. There was a lack of relevant transactional evidence and so, in line with market practice, the independent valuers report from CBRE has noted \"material uncertainty\" relating to property valuations.\n \n \n \n \n \n Q1 Investment Activity\n \n \n \n \n \n During the first quarter of 2020, the Company completed the acquisition of the logistics warehouse in Den Hoorn, the Netherlands, for a net value of €49.9 million, providing a net initial yield of 4.5%. This newly built warehouse is located in the most densely populated area of the Netherlands between the cities of the Hague and Rotterdam. Built to a modern specification, it is a quality warehouse providing office and mezzanine space of over 43,000 square metres. Both LED lighting ...