UK - Aberdeen Property Investors has purchased five retail units in the UK on behalf of the Aberdeen City Council Pension Fund.
The five shops let to WH Smith, C&J Clark, O2 and two local retailers at 10/14 Westgate Street in Ipswich, were acquired for approximately £8.5m (€9.1m), reflecting a net initial yield of 7.4%.
Laura Goodchild, principal investment officer at Aberdeen City Council, said the pension fund had capital to spend on UK real estate.
"If and when something arises, we will assess it on its own merits," she said.
Aberdeen City Council Pension Fund has a 10% allocation to property and it invests directly in UK assets through Aberdeen Property Investors.
Minutes from the joint investment advisory committee's most recent meeting in August showed the pension fund is considering investing indirectly in real estate as part of an ongoing asset allocation review.
"It is part of an ongoing discussion," Goodchild said. "No decisions have been made as yet."