Trygve Sletteberg, Fund Manager for Aberdeen Property Funds SICAV Pan-Nordic comments:
“This is an excellent property with considerable potential to increase income and therefore generate strong returns for our investors.”
The Pan-Nordic fund has been a particularly active buyer in the Nordic region in recent months. In July, acquisitions totalling €328 million were closed in Norway and Finland. The fund’s total portfolio currently amounts to €618 million and includes properties in all four Nordic countries.
The fund continues to receive strong interest from investors. After securing a further €60 million of equity commitments on 21st June, the fund, which had its first closing in October 2006, has now raised a total of approximately €428 million in equity from 26 different investors throughout Europe. This represents a purchasing power of approximately €1billion including leverage.
Espen Klevmark, Head of Product development at Aberdeen property Investors comments:
”We believe that the success of Aberdeen’s Pan-Nordic property fund is above all the result of our ability to invest money rapidly, providing our investors with timely access to the market. Our strong presence in Europe and in particular in the Nordic region gives us a competitive advantage, allowing us identify suitable properties for our funds at an early stage."
Aberdeen Property Funds Pan-Nordic aims to develop a highly diversified property portfolio in the Nordic region and in the Baltic States, with a target investment size of minimum €1.5 billion.
Next closing will take place on 27 September.
END
For further information please contact:
Trygve Sletteberg, Fund Manager Tel: +47 902 08 254
E-mail: trygve.sletteberg@aberdeenpropertyinvestors.com
Espen Klevmark, MD Norway & Head of Product development,
Aberdeen Property Investors
Tel: +47 900 23 111
E-mail: espen.klevmark@aberdeenpropertyinvestors.com
Ole Jørgen Jacobsen, Director Business Development,
Aberdeen Property Investors
Tel: +47 48 04 77 84
E-mail: olejorgen.jacobsen@aberdeenpropertyinvestors.com
Ubbe Strihagen, International Director, Aberdeen Property Investors
Tel: +46 70 520 33 80
E-mail: ubbe.strihagen@aberdeenpropertyinvestors.com
Charlotte Walsh / Tom Siveyer, Maitland Tel: +44 207 379 5151
About Aberdeen
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 over €130 billion of assets.
Aberdeen Property Investors manages some €12 billion in investments through property funds and management mandates on behalf of its institutional client base. Aberdeen Property Investors has some 500 employees at offices in eleven European countries.
Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen Property Investors, authorised and regulated by the Financial Services Authority.