Aberdeen Standard Investments (ASI) has added a newly constructed 24,200sqm housing portfolio in Sweden to its European residential property fund.

The Pan European Residential Property Fund (ASPER) has bought the properties – which include 376 apartments, some commercial premises and parking spaces – located in Lidingö, Täby and Sundbyberg.

Constructed by JM, the properties were completed in 2016 and 2019, with one forward purchase expected to be completed in 2021.

The manager said the latest acquisition diversifies the fund’s portfolio to 27 assets in six countries and raising contracted deals in the fund to over €750m. 

ASPER focuses on cities with very strong demand and supply fundamentals throughout Western Europe and the Nordics.

Marc Pamin, director of fund management at Aberdeen Standard Investments, said: “We are very pleased with this latest acquisition, further diversifying the Fund’s portfolio to a total of 2,400 units and a total volume of €750m.”

Pamin said all 27 assets the fund acquired over the last 15 months since inception in the first quarter of 2018, have a strong focus on sustainability.