Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Balanced Property Fund, has acquired a Trade Market/ Business 2 Business property in Venlo, The Netherlands from TCN Property Projects B.V.
The tenant is Trends & Trade Venlo BV, a wholesale market restricted to B2B-clients and a subsidiary company of TCN Property Projects. The total rental area is 20,027 sqm.
Aberdeen’s European Balanced Property Fund, a semi open ended fund launched last year, has raised €191 million in equity from institutional investors to date.
The fund currently holds properties with a total asset value of €107million under European management and has further deals in the pipeline. It made its first acquisition in October last year of a 4,943 sqm office building in the greater Helsinki area, Finland. In March this year the Fund acquired a 5,444 sqm office/retail investment in Boulevard Sébastopol, Paris and in April acquired a 1,500 sqm retail portfolio in Belgium.
Nico Tates, Fund Manager for Aberdeen European Balanced Property Fund, commented:
“The Dutch market offers attractive opportunities in terms of capital values and rental growth. We are therefore pleased with this first acquisition in The Netherlands as it provides the Fund with attractive yields in combination with a strong tenant and a long lease. “
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 TCN Property Projects
TCN Property Projects is a European asset developer. TCN exploits and develops innovative real estate projects and has offices in the Netherlands, Germany, Portugal, Belgium, Turkey, Charlemagne, Austria, Spain, UK and Hungary. TCN’s core business is to create comfortable, safe and stimulating environments for customers and their clients. TCN Property Projects employees over 250 people.
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 logistic premises. This transaction was the fund’s first 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 over EUR 100 billion of assets. Aberdeen Property Investors manages €11 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.