Aberdeen Property Fund Denmark P/S has acquired two office buildings at Strandvejen 123/Tuborgvej 5, 2900 Hellerup and Nygårdsvej 32, 2100 Copenhagen Ø, for a total of DKK 263m (EUR 35m).
The property on the corner of Strandvejen and Tuborgvej in Hellerup is a significant office building, located across from the expensive Tuborg North area. The building, which has a total area of 6,000 sqm, is fully let to the international insurance broker Willis.
The property at Nygårdsvej 32 was originally built as an industrial work shop. Having recently undergone a total renovation it is now a modern and attractive building housing the international pharmaceutical company Capio Diagnostik A/S as anchor tenant. The building has a total area of 4,000 sqm. as well as underground parking facilities managed by ParkCity A/S.
The property is located at Østerbro, where Aberdeen already owns a number of office buildings. The area is becoming increasingly attractive, due to its easy accessibility for people coming into Copenhagen from the north, reflected in the significantly rising rent levels. Included in the transaction is a building right to build commercial property on the lot.
Tonny Nielsen, CEO at Aberdeen Property Investors Denmark A/S comments:
”We are very pleased with these two acquisitions which fit perfectly with the investment strategy of our property portfolio.
”Strandvejen 123 is an attractive building in a prosperous area. The property at Nygårdsvej gives us a unique opportunity to realise synergies with our existing portfolio and further strengthen and develop the area.
”Whilst the property market continues to be challenging, these acquisitions show there are still good opportunities for investors” .
Aberdeen took over the properties as of 1 July 2008 from the seller, part of the Centerplan group.
For more information, please contact:
Tonny Nielsen, CEO, Aberdeen Property Investors Denmark A/S
Phone +45 33 44 40 00, e-mail: firstname.lastname@aberdeenpropertyinvestors.com
Charlotte Walsh / Victoria Trench, Maitland
Tel: +44 207 379 5151
About Aberdeen Property Fund Denmark P/S
The fund Aberdeen Property Fund Denmark P/S invests in commercial property within the office segment in the Copenhagen area. The portfolio consists of 39 properties of a total book value of DKK 4.8bn. The fund has 40 shareholders and is managed and administered by Aberdeen Property Investors Denmark A/S.
About Aberdeen Property Investors Denmark A/S
Aberdeen Property Investors is the leading investment manager of property in Denmark. On behalf of our institutional investors Aberdeen has more than DKK 6.4bn under management. In 2006 and 2007 Aberdeen was elected the best manager of property investments in Denmark by the international magazine Euromoney. In addition, Aberdeen also won the”Property Manager of the Year 2007” by the Danish real estate magazine Erhvervsejendom.
About Aberdeen Property Investors
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.
With some €30 billion of property assets under management in Europe, Asia and North America through property funds, funds of funds and management mandates, Aberdeen Property Investors is a top ten property investment manager globally.
Clients are primarily institutional investors such as life insurers and pension funds, served by more than 800 professionals at offices in eleven European countries and in Singapore, Hong Kong and Sydney. Our mission is to facilitate domestic and 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.