Press releases

As part of the “Property Management Trends” series, DEGI, a company of Aberdeen Property Investors, in Frankfurt today unveiled a comprehensive analysis of the Southeast Asian property markets and their investment opportunities.

A few days ago, DEGI, part of the Aberdeen Property Investors Group, signed the purchase agreement for the “Petroleum Plaza” office building in Edmonton, Canada, for around €80 million. The property is being acquired indirectly through a real estate company, and incorporated in the DEGI INTERNATIONAL public fund, which focuses on commercial properties worldwide. The seller is an investment fund owned by KingSett Capital.

Aberdeen Property Investors announces that its Luxembourg based Aberdeen Property Nordic Fund I SICAV (FIS) has made two acquisitions and exceeded its target equity size of €200 million.

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).

DEGI’s latest investment: specialist retailing centre in Andernach.

Part of the Aberdeen Property Investors Group, DEGI today announced the signing of a purchase agreement for the “Andernach Shopping World”, involving a total investment of around 40 million euros. The directly purchased property will be added to the DEGI GERMAN BUSINESS property fund, which focuses on commercial properties in Germany.

Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Balanced Property Fund, has acquired two properties in Heerhugowaard and Andelst in The Netherlands.

Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Balanced Property Fund, has recently acquired properties in both France and the Netherlands.

Aberdeen Property Investors is pleased to announce a successful investment of USD 80 million in its AIPP Asia Select fund on the 18th April 2008. The main investor was a Finnish pension institution, The Local Government Pensions Institution (“LGPI”), who committed USD 75 million. This latest closing brings total equity commitments since the fund’s launch in September 2007 to USD 158 million.

Aberdeen Asset Management PLC (Aberdeen), the UK-listed global asset manager, today announces that it will acquire Goodman Property investors (GPI) from the Goodman Group for an initial cash consideration of approximately €114 million (£89 million). The acquisition is expected to be earnings enhancing in the first full year of ownership.

Aberdeen Asset Management PLC ('Aberdeen') is pleased to announce that its wholly-owned subsidiary, Aberdeen Property Investors Holding AB , has completed its acquisition of DEGI Deutsche Gesellschaft fur Immobilienfonds MbH (“DEGI”), a leading German-based property investment management company. DEGI has been acquired from Dresdner Bank for a cash consideration of €110 million (approximately £86.2 million) following approval from BaFin, the German financial authority. The transaction was initially announced on 21 December 2007.

Aberdeen Property Nordic Fund I SICAV (FIS) announces that it has acquired a logistics and distribution centre of approximately 70,000 sqm in the Torsvik industrial area, 10 km south of Jönköping in Sweden. The property has a lettable area of 40,400 sqm, consisting mainly of warehousespace.

"Aberdeen predicts decline in European Property returns in 2008”
Aberdeen Property Investors is predicting returns of 1.9% in European property in 2008 as a result of declining capital values. Total “All Property” returns were already down in 2007, with Aberdeen estimating returns of 3.7% for the year compared with the record 13.3% achieved the previous year. All countries generated positive returns in 2007, with the exception of the UK which recorded negative All Property returns of 3.4%. In 2008, Aberdeen expects Norway and Finland to produce the best returns.

Aberdeen Property Funds SICAV Pan-Nordic (“The Fund”) announces that it has acquired a property portfolio in Stockholm for approximately € 220 million (SEK 2.1 billion) from Whitehall Street Real Estate Funds and Niam Fund III. The portfolio consists of eight office properties spanning approximately 70,000 m2 located in Marievik, southern Stockholm.

Aberdeen Real Estate Fund Finland L.P. has acquired the Hatanpään valtatie 30 property in Tampere, Finland. The property was built in three phases between 1998 and 2000 with a total area of approximately 50,000 square metres. The transaction is structured as a sale and lease-back transaction involving the Fund, Nokia Siemens Networks and Nordea Finance Finland Ltd. Nokia Siemens Networks will continue to use the space as tenant.

Aberdeen builds on an established presence in Germany and reinforces its position as a leading property fund manager in the European market, while DEGI finds the right international partner for its continued growth.

Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Balanced Property Fund (SICAV), has made a second retail investment in Belgium. The Fund has acquired the shares of Zilverpand NV in Brugge, Belgium owning the Zilverpand shopping centre, from Vastgoed-beleggingsmaatschappij APF IV NV and Zilverpand BV. Cushman & Wakefield acted on behalf of the vendor.

Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Balanced Property Fund, has appointed two independent experts, Mr. Ronald Smeets and Mr. René Buck to join its Advisory Committee as well as Mr. Philip Menco and Dr. Peter Fehr as representatives from the investor base.

Aberdeen Property Investors announces the first closing of its second closed ended European fund of funds, Aberdeen Indirect Property Partners II (AIPP II). The launch follows the success of Aberdeen’s first fund of property funds (AIPP), which was established in 2005 as the first of its kind in Europe with equity commitments of €623.5 million. Both funds are managed by Aberdeen Property Investors Indirect Investment Management (API IIM).

Folksam, a major Swedish insurer, has in cooperation with the Aberdeen Property Investors team for indirect investments (API IIM) developed a unique pooling structure - AIPP Folksam Global – a property fund of funds open solely to companies within the Folksam Group. This new type of instrument for indirect property investments is particularly suitable for large multinational companies with separate pension plans.

Aberdeen Property Investors announces the Aberdeen European Shopping Property Fund has made its first closings. In total, €69.5 million has been committed by institutional investors from Switzerland and Sweden.

Following the re-establishment of a UK property operation in June 2007, through the recruitment of a seven strong team, Aberdeen Property Investors has been appointed by GM Investment Trustees Ltd as manager for a part of its UK property pension investment assets.

Aberdeen Property Investors (“Aberdeen”) has confirmed its position as the leading property investment manager in the Nordic & Baltic regions in Euromoney’s new Liquid Real Estate Awards. The company topped the category “Leading investment manager for the Nordic & Baltic region” for the third consecutive year. Aberdeen also came first in the investment management category for the following individual countries: Denmark, Finland and Norway.

Aberdeen today announces the launch of Aberdeen Property Fund Russia. This will be the fourth property fund launched by Aberdeen in 2007 that is currently open for investment and the first in an Eastern European country.

Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Shopping Property Fund, has recruited two independent experts, Baptist Brayé and David Peek, to its Advisory Committee.

Aberdeen Property Funds Pan-Nordic has agreed to acquire a property portfolio in Gothenburg for €140 million. The portfolio of 100,000 m2 in Gothenburg and Mölndal consists largely of offices, but also includes some residential units and retail space.

Aberdeen Property Investors (Aberdeen) believes that the recent credit crunch will hasten the end of the current period of indiscriminate yield compression in Europe. Investment managers will no longer be able to rely on rising property prices across the market to generate the bulk of their returns. Instead the market environment will favour active managers that employ a disciplined process and are far more selective when investing in property from both a regional and sector basis. Furthermore the ability of managers to drive up the rental value of their holdings will be key in generating future returns.

Oslo/Norway, 10 September 2007: Aberdeen Property Investors launches bid to acquire Norgani Hotels ASA and create an European hotel fund.

Aberdeen Property Investors today announces the launch of a second Asian fund of funds (AIPP Asia Select).

Aberdeen Property Nordic Fund I announces that it has acquired a 9,000 m2 renovated office building in central Turku, Finland.

Aberdeen Property Investors announces the appointment of Jon Lekander as Chief Investment Officer. Jon, previously Head of Investment Strategy, will now focus on the implementation of defined investment strategies for Aberdeen’s property funds.

Aberdeen Property Investors announces that the Aberdeen Property Funds SICAV Pan-Nordic has acquired a €108 million office property in central Stockholm from Swedish Match. The 40,000 square meter building will continue to be Swedish Match’s head office.

Aberdeen Property Investors (Aberdeen) announces it has made its fifteenth and final investment for Aberdeen Indirect Property Partners (AIPP), Europe’s largest pan-European pooled property fund of funds. The fund, which was the first of its kind in Europe backed by a group of pan-European institutional investors was launched in February 2005 and has equity commitments of €623.5 million.

Aberdeen Property Investors, the property division of Aberdeen Asset Management PLC, announces that it is recruiting a team to manage commercial real estate investment in Eastern Europe, with an initial focus on Russia. Members of the team will be based in St Petersburg where Aberdeen is opening a local office.

Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Shopping Property Fund, has acquired an inner city shopping centre, “Scheepjeshof” for €34 million from ImmoPlus Beheer BV.

Aberdeen Property Investors announces the fourth closing of the Aberdeen Property Fund SICAV Pan-Nordic, which has raised a further €125 million from British and French institutions as well as Norwegian investors.

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.

Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Balanced Property Fund, has acquired a portfolio of 5 single unit shops in Belgium from Bermaso NV.

In line with its strategy to become a leading fund and asset manager in the French market, Aberdeen Property Investors announces the establishment of a new fund, Aberdeen Property Fund France and Southern Europe. The fund’s first investment is the acquisition of CB 16, a landmark office building in la Défense in Paris, from GE Real Estate France for an amount in excess of €200 million.

AIPP Asia, Aberdeen’s first Asian fund of property funds, launched in October last year, has raised USD 435 million from a range of European pension funds after five months of fund raising.

Aberdeen Property Investors announces that one of its Pan-European funds, Aberdeen European Balanced Property Fund, has acquired from AGF Iart a landmark Haussmannian style, mixed-use building (office and retail), on the corner of Boulevard Sébastopol – Rue Réaumur in central Paris.

Aberdeen Asset Management today announced the acquisition of certain Australian fund management businesses from Deutsche Bank.

Following the successful launch of its European and Asian fund of funds, Aberdeen Property Investors, the specialist property division of Aberdeen Asset Management plc, announces the launch of a new and innovative product, AIPP Active.

Aberdeen says 2006 was a golden year for European property with Western Europe recording the strongest economic expansion in six years, with real GDP increasing by 2.8%. Forecasts for 2007 indicate that the region will generate weaker growth at 2.2% mainly as a result of weaker global demand and the higher interest rate environment.

Aberdeen Property Investors is pleased to announce the recruitment of a seven-strong property investment management team from Credit Suisse Asset Management, led by Glenn Newson. Glenn will join Aberdeen as head of Property Asset Management in the UK.

Aberdeen expects the Nordic property markets to outperform the rest of Europe in 2007 despite predicting a deceleration in total returns in the region as capital values weaken.

Scandinavian Property Development ASA (SPD), a new property company established by SEB Enskilda and Aberdeen Property Investors, has raised €370 million in new equity through a private placing with more than 230 international investors. The equity offering was highly successful and 4 times oversubscribed with subscriptions for € 1.5 billion.

Aberdeen Property Investors Indirect Investment Management (API IIM), part of Aberdeen Asset Management PLC’s property division, has won a second separate account mandate from the Third Swedish National Pension Fund (AP3) for approximately EUR 250 million.

Aberdeen Property Investors Indirect Investment Management (API IIM), part of Aberdeen Asset Management PLC’s property division, has won a second separate account mandate from the Third Swedish National Pension Fund (AP3) for approximately EUR 250 million.

Aberdeen Property Investors (Aberdeen) announces the launch of a new property fund, the Aberdeen Real Estate Fund Finland (AREFF). The closed fund has been customised for three institutional investors who have all invested equal amounts of capital to the fund. The investors are Ilmarinen Mutual Pension Insurance Company Finland, pension fund ABP from the Netherlands and Danish ATP Real Estate.

Aberdeen Property Investors together with the investment bank SEB Enskilda announces the establishment of a major property development company in the Scandinavian market, Scandinavian Property Development ASA. The company will be open for investment from both domestic and international institutional investors.

Aberdeen Property Investors’ recently launched Aberdeen European Balanced Property Fund raised EUR 96 million from institutional investors at its first closing of Class A shares at the end of October. A second closing is expected to take place in January 2007.

Aberdeen Property Investors’ recently launched Aberdeen Property Funds SICAV Pan-Nordic successfully completed its initial closing on the 31st October. The fund raised EUR 125 million from investors in Norway, Finland, Sweden, the Netherlands, France and the United Kingdom. The fund expects to invest this capital within the next three months. Its current investment capacity is in excess of EUR 300 million.

Aberdeen Property Fund Sweden announces the acquisition of a portfolio of nine properties with a combined real estate value of approximately EUR 77 million. The properties were sold by Diös & Kuylenstierna and the deal was configured as a corporate transaction.

Aberdeen Property Investors’ recently launched Asian fund of property funds (AIPP Asia) successfully completed its initial closing on the 20 October with three institutional lead investors and commitments of USD 91 million. The lead investors are Swedish Folksam, Handelsbanken Liv and Finnish Ilmarinen.

The Nordic property markets are continuing to recover with rental levels increasing in most markets and vacancies generally moving lower across most cities and sectors. The recovery is underpinned by strong fundamentals.

Aberdeen Property Investors expects the total return on Swedish properties to reach 11.8 percent this year. This represents an upward adjustment of 1.7 percent compared with the forecast of 10.1 percent made in December 2005.

For the second consecutive year, Aberdeen Asset Management plc has been named the leading investment manager for Western Europe and the Nordic & Baltic regions in the Euromoney Awards for Excellence in Real Estate. In addition, Aberdeen’s strong performance has earned it the top position in the Global category.

Aberdeen Property Investors and L’Etoile Properties form strategic partnership to develop property asset management services for the French property market

Aberdeen Property Investors, a leading European investment manager today launches a new Pan-Nordic property fund for international institutional investors.

Aberdeen Property Investors expands its fund activities and launches two new international fund products, designed mainly for German investors.

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, the European leader in indirect property investments, expands the property business into Asia with the launch of an Asian Fund of property funds

Aberdeen Property Fund Finland I Ky, a property fund launched by Aberdeen Property In-vestors Finland Oy, has signed an agreement to purchase four properties from the Pension Fund of Valio (Valion Eläkekassa).

Aberdeen Property Fund Denmark has acquired five commercial properties in Ballerup, Copenhagen. The total size of the properties is equivalent to 44,500 m2.

Aberdeen Property Investors The Netherlands BV has purchased from Rodamco Europe a portfolio of assets, including 150 individual centre-location unit shops across the Netherlands.

Aberdeen Property Investors’ recently launched Property Fund Sweden has acquired its first three properties; an office building in Gothenburg and two retail properties in Uppsala, north of Stockholm, for approximately EUR 12 million. The fund intends to make further acquisitions in the near future.

 

Aberdeen Property Investors is launching a new property fund designed to invest in a balanced and well diversified portfolio of real estate in Sweden.

Aberdeen’s Danish property fund (API Property Fund Denmark P/S) is pleased to announce that it has received an additional investment of DKK 198.6 million (€26.5 million) from three investors, including a major global fund manager who has invested through its European fund-of-funds.

Aberdeen Property Fund Finland I Ky, a property fund launched by Aberdeen Property Investors Finland Oy, has signed agreements to purchase 16 properties.

Aberdeen expands into France with the recruitment of Mr Jacques-Yves Nicol as Managing Director of Aberdeen Property Investors France

Aberdeen Property Investors has raised SEK 200 m for the first closing of its Swedish property fund, implying total investment capacity of SEK 500 m, for investment in Swedish real estate with a balanced and well-diversified portfolio strategy (core plus).

On behalf of Nordea Liv & Pension, the life and pensions arm of northern European financial services group Nordea, Aberdeen Property Investors has reached an agreement with AxFast on a property swap deal worth nearly SEK 700 m. The transaction relates to the acquisition of retail and logistics properties in central Sweden, and the sale of office premises in Stockholm.

Aberdeen Property Investors (Aberdeen) today announced the final closing of Aberdeen Indirect Property Partners (AIPP), Europe’s largest pooled property fund of funds. The fund, which was oversubscribed, is the first of its kind in Europe backed by a pan-European group of institutional investors. With total equity of €623.5 million AIPP will build up a gross real estate exposure of some €1.9 billion through investments in a number of property funds across Europe.

Investors have committed an additional NOK 250 m (approx €30m) in equity in the second closing of the Norwegian property fund, Aberdeen Property Fund Norway II (Aberdeen Eiendomsfond Norge II ASA).

Aberdeen Property Investors has attracted €45 million for the first closing of its new Finnish property fund. The investment  has come from pension funds, institutions and corporations such as the Local Government Pensions institution, Suomi Mutual Life Assurance Company, Seamen’s Pension fund and the Local Insurance Group.

Aberdeen Property Investors is taking over the technical management of the Swedish real estate portfolio owned by Nordea Liv, the life assurance arm of Northern European financial services group Nordea. Aberdeen has been managing Nordea Liv’s real estate portfolio for some time, but the assignment is now extending to encompass the whole value chain in real estate-related services, from investment strategy to servicing properties.

Aberdeen Property Investors has been appointed to manage the Bank of Sweden Tercentenary Foundation’s Swedish property portfolio, worth over SEK 600 million. This portfolio comprises 12 attractively located properties in Stockholm and Malmo, with total floor-space of 32,000 sq m. The assignment is a total undertaking with services extending from property services to portfolio analysis.

Aberdeen Property Investors has successfully conducted the first closing of its second Norwegian fund, API Eiendomsfond Norge II ASA, having raised NOK 298 m in equity from investors in just a month. With the planned gearing of 75%, the fund now has a committed capital for new property investment of approx NOK 1 200 m (approx € 150 million).

Based on the tremendous success of its first Norwegian property fund, Aberdeen Property Investors is launching a second property fund in Norway, API Eiendomsfond Norge II ASA. The fund, which will have its first closing on November 11 2005 will consist of an actively managed portfolio that is well diversified across different types of property, regions and tenant categories.

As part of the new strategic orientation of its real estate business, NSB has decided to take over management of the Group’s property stock when its contract with Aberdeen Property Investors expires on 31.12.06. The main reason for this is that real estate management has been defined as being strategically important for the core real estate business.
Operation and maintenance of the property stock will still be provided by an external contractor, however.

Aberdeen Property Investors is launching a new Finnish property fund designed to invest in a balanced and well-diversified portfolio of real estate in Finland. Aberdeen Property Fund Finland I Ky (“the fund”) is a limited partnership and is open to both Finnish Institutions and individual investors.

Aberdeen Asset Management PLC, has today been named the leading property investment manager in Western Europe and Nordic & Baltic regions in today’s Euromoney Awards for Excellent in Real Estate. In addition, Aberdeen was named number two for Investment Management globally.

Aberdeen has attracted an additional €44 million to the second closing of Aberdeen Indirect Property Partners (AIPP), Europe’s first pooled PanEuropean property fund of funds.

Bo Ljunglöf has joined Aberdeen Property Investors unit for indirect property investments, Aberdeen Property Investors Indirect Investment Management (APIIIM) as a Director.

The property fund, “API Property Fund Denmark P/S”, has acquired a major property portfolio from Diligentia Danmark A/S as per 1 July 2005.

UK-based property investment manager, Rockspring Property Investment Managers Ltd (formerly PRICOA Property Investment Management Limited), has purchased the Kompassi shopping centre, located in Hollola, Finland from Finnish property investment company Polar Real Estate Ltd for €7.2 million.

According to the initial sales contracts terms Ilmarinen Mutual Pension Insurance Company sells its 40 % part of Aberdeen Property Investors Finland Oy’s shares to API Holding AB.

In line with the European growth strategy, Aberdeen Property Investors now expands and establishes a new office in Germany.

Aberdeen Property Investors (Aberdeen) has carried out a €161.5 million first closing on Aberdeen Indirect Property Partners (AIPP), Europe’s first pooled PanEuropean property fund of funds. The capital was supplied by a network of the fund’s three lead investors: Folksam (including KPA), Nordea Life & Pension, and a pension fund in Finland, all of which increased their total initial commitments of €100 Million. Aberdeen aims to raise €300-400 million from institutional investors during the course of 2005.

Aberdeen Property Investors is to acquire Catella’s property management companies in Belgium and the Netherlands. The acquisition is part of Aberdeen’s strategy of expanding in the European property investment market. Meanwhile, Catella is gearing up to accelerate its involvement in transaction services in both these countries. Aberdeen and Catella also establish an agreement for future cooperation in these markets.

In just five months Aberdeen Property Investors’ Norwegian real estate mutual fund has attracted investment capital of over NOK 800 million. The fund was launched in June this year with NOK 400 million – primarily from 12 institutional investors, but also from the private capital market. Since then investments of NOK 400 million have been added, including from two pension funds, and a further NOK 200 million has been committed for the next closing date of 30 November. The existing investors have also notified that they will increase their investments as the fund grows.

Today Aberdeen Property Investors Denmark A/S is launching API Property Fund Denmark P/S, one of the first real estate mutual funds in the Nordic region. It is being run as a tax-transparent limited partnership, which offers investors substantial tax benefits. The mutual fund is mainly aimed at institutional investors, both Danish and international, looking for a good, secure, and well-diversified investment.

The Suomi Group, one of Finland’s largest Life Assurance Companies, has appointed Aberdeen Property Investors’ Indirect Investment Management team to invest €150 Million in European unlisted property funds.

Aberdeen Asset Management PLC (”AAM”) announced on 5 April 2004 that it had conditionally agreed to sell its UK and Continental European property investment management businesses to Arlington Securities Limited (”the Disposal”). AAM is retaining its Nordic property investment management business (”Aberdeen Property Investors Nordic”). The Disposal was completed 25 May 2004.

IXIS AEW Europe has appointed Aberdeen Property Investors to manage the property portfolios it recently acquired from Nordea in Sweden and Finland. The assignment comprises asset management, transactions, project co-ordination and property management.