Aberdeen Property Investors announces the Aberdeen European Shopping Property Fund has made its first closings. In total, €69.5 million has been committed by institutional investors from Switzerland and Sweden.
The next closing is expected in December 2007 and the total target equity is €525 million to build up a portfolio of €1.5 billion.
The Fund, which is closed ended and designed for institutional investors, comprises properties with a total asset value of € 160 million under management. It is specialised in acquiring and managing retail properties in the mature markets in North Western Europe. The core countries include the Netherlands, Belgium, France and Germany.
Nico Tates, Fund Manager, Aberdeen European Shopping Property Fund, commented:
“We are delighted to have completed the first closings and to have seen such high demand from international investors. The changing dynamics of the European property market underlines the importance of the fund being actively managed.”
For further information, please contact:
Nico Tates, Fund Manager of Aberdeen European Shopping Property Fund
Tel: + 31 20 687 05 00
E-mail: nico.tates@aberdeenpropertyinvestors.com
Thomas Holm, Deputy Fund Manager of Aberdeen European Shopping Property Fund
Tel: + 31 20 687 05 00
E-mail: thomas.holm@aberdeenpropertyinvestors.com
Ubbe Strihagen, International Director, Aberdeen Property Investors Holding
Tel: +46 70 520 33 80
E-mail: ubbe.strihagen@aberdeenpropertyinvestors.com
Charlotte Walsh / Tom Siveyer, Maitland
Tel: +44 207 379 5151
About Aberdeen’s European Shopping Property Fund
Aberdeen European Shopping Property Fund invests in Belgium, Germany, France and The Netherlands. The Fund specialises in retail properties and invests in shopping centres, retail warehouses and high street unit shops.
About Aberdeen
Aberdeen Property Investors is the specialist property division of Aberdeen Asset Management plc, a global investment management group listed on the London Stock Exchange and managing over €130 billion of assets.
Aberdeen Property Investors manages €13 billion in investments through property funds and management mandates on behalf of its institutional client base. Aberdeen Property Investors has some 500 employees at offices in eleven European countries.
Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen Property Investors, authorised and regulated by the Financial Services Authority.