abrdn European Logistics Income, a company that invests in high-quality European logistics real estate, has sold a 32,645-square-meter (351,388-square-foot) warehouse, in Leon, Northern Spain, to SCPI Iroko Zen, for €18.5 million ($20 million).
The sale price reflects a 3 percent premium to the Dec. 31, 2022 valuation.
ASLI acquired the asset in 2018 for €15.3 million ($17 million). Located in the Villadangos industrial area, it is now leased to Decathlon with a WAULT of six years.
This is the company’s first disposal, which increases the portfolio’s urban logistics weighting.
“Having performed well since acquisition, this is the right time to crystalize our investment by disposing of one of our more mature assets,” said Troels Andersen, lead fund manager for ASLI. “This sale, which was achieved ahead of the most recent valuation, underlines the resilience of the Continental European warehouse sector and continues our portfolio pivot toward
