abrdn Property Income Trust Ltd, has sold two of its assets for a total price of €15.44m. The sale was completed on April 17, 2024, and the buyer's identity remains undisclosed. The sale included Monkton Business Park in Hebburn and King's Business Park in Bristol.
The Monkton Business Park was sold for €6.2m, which is a 6% premium, and the King's Business Park was sold for €9.24m, a 1.25% discount from the December valuation.
The sale price represents a 1.5% premium compared to the December valuation. Mark Blyth, the Deputy Fund Manager of abrdn Property Income Trust, stated that the proceeds from the sale will be used to pay down the company's rolling credit facility.
Image source - Pexels.
