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.
The Fund has a value-added profile and aims to build a diversified portfolio of office properties in attractive growth areas in the Nordic region and Baltic States. Marievik and Liljeholmen are two districts in southern Stockholm offering good growth potential, in particular because of good communications. Furthermore, Marievik has a high concentration of modern office premises and continues to grow following the addition of over 4,000 new housing units and a new shopping centre in the region.
Tryggve Sletteberg, fund manager for Aberdeen Property Funds Pan-Nordic Sicav commented:
”The investment comprises contemporary, flexible and high-quality offices in prime locations in Marievik and we believe that they offer significant opportunities for further development.”
Following this acquisition, Aberdeen’s Pan-Nordic Property Fund will have invested approximately €500 million in Swedish properties. The fund’s overall portfolio comprises properties with an aggregate value of approximately €1.2 billion, with property holdings in all four Nordic countries. It has a target investment size of minimum €1.5 billion.
For more information, please contact:
Trygve Sletteberg, Fund Manager, Aberdeen Property Funds Pan-Nordic Sicav, Aberdeen PropertyInvestors
Tel: +47 22 01 27 00 trygve.sletteberg@aberdeenpropertyinvestors.com
Jan Sööder, Managing Director, Aberdeen Property Investors Sweden
Tel: +46 8 412 8098, jan.sooder@aberdeenpropertyinvestors.com
Charlotte Walsh / Georgina Pepys, Maitland
Tel: +44 207 379 5151