The total area of the building is 5,444 sqm and it has 96 indoor parking places. The principal tenant is Groupe Caisse d’ Epargne. The building was totally refurbished in 2002.
Draco Partners acted as Aberdeen’s agent in the acquisition.
Aberdeen’s European Balanced Property Fund, launched last year, has raised €191 million in equity from institutional investors to date. The fund currently has properties of a total asset value of €70 million under management and has further deals in the pipeline in Belgium and the Netherlands. It made its first acquisition in October, when the fund acquired a 4,943 sqm office building in the greater Helsinki area, Finland.
Nico Tates, Fund Manager for Aberdeen European Balanced Property Fund, commented:
“We are very pleased to have purchased a landmark building with an attractive return prospective in a competitive property market like Paris. This acquisition fits in well with the fund’s strategy of building a risk averse portfolio of European properties.”
For further information, please contact:
Nico Tates, Fund Manager of Aberdeen European Balanced Property Fund
Tel: + 31 20 687 05 00
E-mail: nico.tates@aberdeenpropertyinvestors.com
Sandrine Vergallen, Acquisition & Asset Manager, Aberdeen European Balanced Property Fund
Tel: + 31 20 687 05 00
E-mail: Sandrine.vergallen@aberdeenpropertyinvestors.com
Ubbe Strihagen, International Director, Aberdeen Property Investors Holding
Tel: +46 70 520 33 80
E-mail: ubbe.strihagen@aberdeenpropertyinvestors.com
Charlotte Barker / Tom Siveyer, 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 France, the fund invests mainly in office, commercial and logistic premises. This transaction was the fund’s first investment in France.
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 EUR 100 billion of assets.
Aberdeen Property Investors manages €10 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 ten European countries.
Aberdeen was named the leading Property Investment Manager; Globally, in Western Europe and in the Nordic & Baltic regions in the Euromoney Awards 2006 for Excellence in Real Estate.
Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen Property Investors, authorised and regulated by the Financial Services Authority.