abrdn Property Income Trust Announces Strategic Exit and Asset Sale

 

abrdn Property Income Trust Limited (LSE:API) has revealed its final results for the year ending December 2024, outlining a strategic shift after a failed merger attempt with Custodian REIT. As a result, the company has opted to wind down its operations and liquidate its property portfolio. The sale of its assets to GoldenTree Asset Management for £351 million marked a significant step, although the transaction was completed at an 8% discount to the portfolio’s original valuation, leading to an accounting loss.

In addition to the asset sale, the company has exited the REIT regime and initiated a Redeemable Bonus Share Scheme, enabling it to return capital to shareholders. The board has also undergone restructuring, reducing its size to two directors, streamlining operations to focus on managing the wind-down process and minimizing ongoing costs.

Company Overview

abrdn Property Income Trust Limited is a closed-ended investment company based in Guernsey, specializing in real estate investments. The company aims to provide its shareholders with stable income and long-term capital growth through its portfolio of property assets, although its current focus has shifted toward liquidating those holdings.

Key Metrics:

• Year-to-Date Share Price Performance: -11.01%

• Average Daily Trading Volume: 1,354,924 shares

• Technical Sentiment: Sell

• Market Capitalization: £23.41 million

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