DEGI, part of Aberdeen Property Investors, has extended a long-term lease contract for the largest property of the DEGI EUROPA openend property fund, in the shape of around 55,000 sqm of the Maanplein office building in The Hague being leased by KPN, the Netherlands’ main telecommunication company, till 2020. With this agreement three-quarters of the office complex is let on a long-term basis to an anchor tenant.
The Maanplein property consists of twelve office buildings which were completed between 1998 to 2000 and let to KPN who has used the complex since then as their headquarter.
This property, with a current market value of more than 200 million euros, accounts for around 8 % of the fund`s assets. "With this tenancy, DEGI EUROPA is underlining its sustainable profitability", emphasizes Bärbel Schomberg, CEO of DEGI`s Management Board.
Maanplein is part of the portfolio owned by the open-ended property fund DEGI EUROPA. This fund, invested solely in economically buoyant property markets, currently manages assets of around 1.7 billion euros. The property assets are broadly diversified: around 33% in Germany, 18% in France, 15% in The Netherlands, 14% in Italy and approximately 20 % in other European countries.
In sum DEGI manages property assets worth more than 350 million euros for all funds in the Netherlands.
Background information
DEGI Deutsche Gesellschaft für Immobilienfonds mbH ranks among Germany`s biggest property asset managers, and since being founded in 1972 has specialised in managing property assets. Its product range currently comprises two public property funds for private investors, two public property funds for institutional investors, one property special fund, plus two individual mandates. With its approximately 135 staff, the company manages fund assets of around 6 billion euros. DEGI currently owns properties in 17 different countries. Since 27 March 2008, DEGI has been part of Aberdeen Property Investors.
For more information: www.degi.com
Aberdeen Property Investors is the property investment division of Aberdeen Asset Management PLC, a globally operating investment management group listed on the London Stock Exchange, handling assets of around 104 billion euros through equity holdings, bonds and properties. Aberdeen Property Investors manages property assets worth more than 25 billion euros by means of property funds, funds-of-funds and management mandates in Europe, Asia and North America. The company thus ranks among the world's ten biggest property investment managers. Its customers are mainly institutional investors like life insurance companies and pension funds, plus some third-party customers, handled by more than 650 staff in 13 European countries, and in Singapore.
For more information: www.aberdeenpropertyinvestors.com
Aberdeen Asset Management PLC (Aberdeen) is an international investment management group managing assets totalling £96.3 billion (US$138 billion, €103.9 billion) as at 31 March 2009 for clients around the world. Since 1991, Aberdeen has been listed on the London Stock Exchange. TheGroup’s principal areas of activity are equity, fixed income and property.
For more information: www.aberdeen-asset.com
Legal note:
All statements in this release are subject to error and topicality. In particular, the statements on the future are not to be construed as binding. DEGI accepts no liability whatsoever for the information and statements contained herein.