Press releases - 2005

Aberdeen Property Investors is taking over the technical management of the Swedish real estate portfolio owned by Nordea Liv, the life assurance arm of Northern European financial services group Nordea. Aberdeen has been managing Nordea Liv’s real estate portfolio for some time, but the assignment is now extending to encompass the whole value chain in real estate-related services, from investment strategy to servicing properties.

Aberdeen Property Investors has been appointed to manage the Bank of Sweden Tercentenary Foundation’s Swedish property portfolio, worth over SEK 600 million. This portfolio comprises 12 attractively located properties in Stockholm and Malmo, with total floor-space of 32,000 sq m. The assignment is a total undertaking with services extending from property services to portfolio analysis.

Aberdeen Property Investors has successfully conducted the first closing of its second Norwegian fund, API Eiendomsfond Norge II ASA, having raised NOK 298 m in equity from investors in just a month. With the planned gearing of 75%, the fund now has a committed capital for new property investment of approx NOK 1 200 m (approx € 150 million).

Based on the tremendous success of its first Norwegian property fund, Aberdeen Property Investors is launching a second property fund in Norway, API Eiendomsfond Norge II ASA. The fund, which will have its first closing on November 11 2005 will consist of an actively managed portfolio that is well diversified across different types of property, regions and tenant categories.

As part of the new strategic orientation of its real estate business, NSB has decided to take over management of the Group’s property stock when its contract with Aberdeen Property Investors expires on 31.12.06. The main reason for this is that real estate management has been defined as being strategically important for the core real estate business.
Operation and maintenance of the property stock will still be provided by an external contractor, however.

Aberdeen Property Investors is launching a new Finnish property fund designed to invest in a balanced and well-diversified portfolio of real estate in Finland. Aberdeen Property Fund Finland I Ky (“the fund”) is a limited partnership and is open to both Finnish Institutions and individual investors.

Aberdeen Asset Management PLC, has today been named the leading property investment manager in Western Europe and Nordic & Baltic regions in today’s Euromoney Awards for Excellent in Real Estate. In addition, Aberdeen was named number two for Investment Management globally.

Aberdeen has attracted an additional €44 million to the second closing of Aberdeen Indirect Property Partners (AIPP), Europe’s first pooled PanEuropean property fund of funds.

Bo Ljunglöf has joined Aberdeen Property Investors unit for indirect property investments, Aberdeen Property Investors Indirect Investment Management (APIIIM) as a Director.

The property fund, “API Property Fund Denmark P/S”, has acquired a major property portfolio from Diligentia Danmark A/S as per 1 July 2005.

UK-based property investment manager, Rockspring Property Investment Managers Ltd (formerly PRICOA Property Investment Management Limited), has purchased the Kompassi shopping centre, located in Hollola, Finland from Finnish property investment company Polar Real Estate Ltd for €7.2 million.

According to the initial sales contracts terms Ilmarinen Mutual Pension Insurance Company sells its 40 % part of Aberdeen Property Investors Finland Oy’s shares to API Holding AB.

In line with the European growth strategy, Aberdeen Property Investors now expands and establishes a new office in Germany.

Aberdeen Property Investors (Aberdeen) has carried out a €161.5 million first closing on Aberdeen Indirect Property Partners (AIPP), Europe’s first pooled PanEuropean property fund of funds. The capital was supplied by a network of the fund’s three lead investors: Folksam (including KPA), Nordea Life & Pension, and a pension fund in Finland, all of which increased their total initial commitments of €100 Million. Aberdeen aims to raise €300-400 million from institutional investors during the course of 2005.