HANSTEEN ACQUIRES £5.6 MILLION OF AIF UNITS
25 Apr 2016
Hansteen acquires £5.6 million of AIF units
Hansteen (LSE: HSTN), the UK and Continental European property investment company, announces that it has acquired a further 12.4 million units in the Ashtenne Industrial Fund (“AIF”) from Nortrust Nominees Limited for £5.6 million cash, reflecting a price per unit of 45.49 pence. This acquisition represents 2.1% of the units in issue and increases Hansteen’s holding in AIF to 85.6%.
AIF owns some 11.3 million sq ft of multi-let industrial properties in the UK. At 31 December 2015, the portfolio consisted of 2,935 units at 227 individual estates, with an annual rent roll of £34.7 million and vacancy of 12.0%. The gross asset value of the properties was £436.4 million.
For further information:
Morgan Jones / Ian Watson Jeremy Carey
Hansteen Holdings PLC Tavistock
Tel: 020 7408 7000 Tel: 020 7920 3150
Notes to Editors:
Hansteen Holdings PLC
Hansteen Holdings PLC (LSE:HSTN) is a European industrial REIT that invests in properties with high yields, low capital costs and opportunity for value improvement across the Netherlands, Germany, Belgium, France and the UK.
Founded by Morgan Jones and Ian Watson, the Company listed on Aim in November 2005 raising £125 million. In 2009, it raised a further £200.8 million by way of a Placing and Open Offer and moved to the Official List, converting to a REIT shortly thereafter. In April 2011, the Company raised a further £150 million by way of a Placing and Open Offer.
At 31 December 2015, Hansteen had total property under management of some 494 assets with a value of £1.5 billion.