Business
Unaudited Q4 2020 Portfolio Valuation Update
Unaudited Q4 2020 Portfolio Valuation Update.
About this update from Abrdn European Logistics Income Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2246M\n Aberdeen Standard Eur Lgstc Inc PLC\n 20 January 2021\n \n \n \n \n 20 January 2021\n \n \n \n \n \n Aberdeen Standard European Logistics Income PLC\n \n \n LEI: 213800I9IYIKKNRT3G50\n \n \n \n \n \n Unaudited Property Portfolio Valuation and Rent Collection Update\n \n \n \n \n \n Aberdeen Standard European Logistics Income PLC (\n the \"Company\"\n or \"ASLI\") today provides an \n update\n on\n \n the unaudited \n quarterly independent valuation of the property portfolio as at 31 December 2020\n and its rent collection for the fourth quarter of 2020\n .\n \n \n - As at 31 December 2020, the property portfolio was independently valued by CBRE GmbH at €430.2 million, an increase of 6.0%, or €24.5 million, on the 30 September 2020 valuation of €405.7 million on a like for like basis.\n \n \n - 100% of rent due for the quarter ended 31 December 2020 has been collected.\n \n \n - Total rent collection for the calendar year 2020 is 97% of rent due under original tenant agreements, as previously reported, with the balance consisting of agreed rent deferrals and rent free periods granted in exchange for material lease extensions.\n \n \n - The Company remains prudently geared with a loan to value ratio of approximately 31% of gross assets, with no debt maturity before June 2025 and an average remaining loan duration of 5.7 years.\n \n \n \n \n \n The Company expects its unaudited 31 December 2020 net asset value per share to have increased materially since the third quarter (30 September 2020: 112.7 euro cents, equivalent to 102.9 pence per share).\n \n \n The Company plans to announce the 31 December 2020 unaudited NAV and its fourth interim distribution in respect of the year ended 31 December 2020 on or around 19 February 2021.\n \n \n Portfolio Valuation\n \n \n As at 31 December 2020, the Company's property portfolio was independently valued at €430.2 million (£386.7 million) and consists of 14 assets located across five European countries. This unaudited valuation represents a strong 6.0% uplift of €24.5 million over the previous Q3 2020 property valuation of €405.7 million.\n \n The valuation increase was predominantly the result of 25 basis points of yield compression across the entire portfolio,\n driven by the strength of the ...