Aberdeen Property Nordic Fund I SICAV, a property fund launched by Aberdeen Property Investors, has signed an agreement, subject to conditions not yet fulfilled, to purchase the first part of Falcon Business Park in Espoo, Finland from NCC Property Development Oy. The fund has also tentatively agreed to purchase three additional parts in the future.
Aberdeen Property Nordic Fund I SICAV is an open-ended fund investing in a well-diversified portfolio of Nordic commercial property. The Fund is exclusively tailored to the requirements of German institutional investors. The acquisition is the Fund’s first investment in Finland.
Falcon Hali is the first phase of Falcon Business Park in Otaniemi, Espoo. The developer of the Park is NCC Property Development Oy, with which the Fund has made a preliminary agreement over the next phases of Falcon Business Park which will be developed within the next 4-5 years.
Tim Lasys, Director of Institutional Investments at Aberdeen Property Investors Deutschland GmbH commented:
“These premises are very suitable for our Fund’s strategy with their size and the great location in a dynamic area of Keilalahti - Otaniemi in Espoo.”
Falcon Hali is an office building which will be completed in July 2007. Further buildings called Lago, Gentti and Tinnu will be completed in stages by 2010. The total area to be let will be about 24,000 sqm, of which Falcon Hali is about 6,000 sqm.
Jorma Ahokas, Managing Director of NCC Property Development Oy said:
“There were a number of investors who were interested in this site. We are happy that with Aberdeen everything went smoothly without any major delays.”
Pertti Vanhanen, CEO of Aberdeen Property Investors Finland Oy commented: “This transaction is a great example of how Aberdeen’s European teams work successfully together benefiting from our local knowledge.”
Business Park Falcon is a continuous part of Otaniemi with its location, functions and architecture. A red brick facade in the spirit of modern Finnish architect Alvar Aalto, continues in four buildings of Falcon. The buildings are designed by architects Optiplan Oy.
For more information, please contact:
Tim Lasys, Director, Institutional Investments, Aberdeen Property Investors Deutschland GmbH. Tel. +49 221 650 314 23 e-mail: tim.lasys@aberdeenpropertyinvestors.com
Pertti Vanhanen, Managing Director, Aberdeen Property Investors Finland Oy Tel: +358 (0)10 3040 301 e-mail: pertti.vanhanen@aberdeenpropertyinvestors.com
Ubbe Strihagen, International Director, Aberdeen Property Investors Holding AB Phone: +46 70 520 33 80 E-Mail: ubbe.strihagen@aberdeenpropertyinvestors.com
Charlotte Barker / Tom Siveyer, Maitland Tel: +44 207 379 5151
Aberdeen Property Investors
Aberdeen Property Investors is one of Europe’s leading property investment managers with over EUR 9 billion in property investments through property funds and management mandates across Europe.
Aberdeen Property Investors has some 500 employees at offices in Belgium, Denmark, Finland, France, Germany, Luxembourg, the Netherlands, Norway, Sweden and the United Kingdom. Clients are primarily institutional investors such as life and pension funds.
Aberdeen Property Investors is part of Aberdeen Asset Management PLC (Aberdeen) an international investment management group listed on the London Stock Exchange with asset management activities in bonds, equities and property.
Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen Property Investors, Aberdeen Asset Managers Limited is authorised and regulated by the Financial Services Authority.