The first acquisition consists of 4 retail properties divided into 14 retail units (with a total area of16,500 m2). These properties are located on the Beveland retail warehouse park in Heerhugowaard, about 50km from Amsterdam and near the city of Alkmaar. The units’ principal tenants are Jysk, Carpet Right and Beter Bed. Aberdeen was advised by Bregman Makelaardij in Alkmaar.
The second property is a 4,750 m2 warehouse located near the A15 motorway (Rotterdam – Ruhrgebied) and A50 (Groningen – Eindhoven) on a warehouse park in the west of the Netherlands, near Nijmegen.
Aberdeen’s European Balanced Property Fund, launched last year, has raised €242 million in equity from institutional investors to date. The fund currently has properties of a total asset value of €215 million under management in Finland, France, Belgium and the Netherlands. It has further deals in the pipeline in the Netherlands, Spain and France.
Nico Tates, Fund Manager for Aberdeen European Balanced Property Fund, commented:
“Both properties are interesting investments with attractive yield levels and upward potential, combining both cash returns and long term capital growth. In terms of our international allocations, Dutch property is forecast to have above average European returns in 2008 underlining our confidence in these investments.”
For further information, please contact:
Nico Tates, Fund Manager, Aberdeen European Balanced Property Fund
Telephone: + 31 20 687 05 00
E-mail:
nico.tates@aberdeenpropertyinvestors.com
Sandrine Vergallen, Deputy Fund Manager, Aberdeen European Balanced Property Fund
Telephone: + 33 1 76 74 17 75
E-mail:
Sandrine.vergallen@aberdeenpropertyinvestors.com
Charlotte Walsh / Victoria Trench, Maitland
Tel: +44 207 379 5151
About Aberdeen’s European Balanced Property Fund
Aberdeen European Balanced Property Fund invests in Belgium, Finland, France, the Netherlands, and Spain. In the Netherlands, the fund invests in industrial/warehouse premises. This transaction was the fund’s third and fourth investment in The Netherlands.
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 some €130 billion of assets in equities, fixed income and property.
Aberdeen Property Investors is one of Europe’s leading investment managers specialising in property, with some €30 billion of assets under management through property funds, funds of funds and management mandates in Europe, Asia and North America.
Clients are primarily institutional investors such as life insurers and pension funds, served by our more than 800 professionals at offices in eleven European countries and in Singapore, Hong Kong and Sydney.
Our mission is to facilitate international investment exposure to property by offering a comprehensive range of investment products and services, all supported by a structured investment process and local active management.
www.aberdeenpropertyinvestors.com
Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen Property Investors, authorised and regulated by the Financial Services Authority