European fund manager Aberdeen has acquired a large office property in the Finnish city of Tampere on behalf of its Real Estate Fund Finland for an undisclosed amount. The acquisition follows the final closing of the fund in December last year. The office property was built in three phases between 1998 and 2000 and offers a total area of about 50,000 m[sup]2[/sup]. It has been leased back to telephone operator Nokia Siemens Networks.
European fund manager Aberdeen has acquired a large office property in the Finnish city of Tampere on behalf of its Real Estate Fund Finland for an undisclosed amount. The acquisition follows the final closing of the fund in December last year. The office property was built in three phases between 1998 and 2000 and offers a total area of about 50,000 m2. It has been leased back to telephone operator Nokia Siemens Networks.
Aberdeen Real Estate Fund Finland is a closed-end value-added fund, launched in December 2006 and dedicated to three institutional investors; Ilmarinen Mutual Pension Insurance Company Finland, pension fund ABP from the Netherlands and Danish ATP Real Estate. The fund had its final closing in December 2007 with total commitments of EUR 200 mln and a targeted gross asset value of EUR 600 mln.
'We are pleased to have acquired a high quality property in Tampere that will further improve the current portfolio's diversification and bring the fund's total gross asset value to approximately EUR 500 mln', said Christoffer Sundberg, fund manager for Aberdeen Real Estate Fund Finland.
Colliers International acted as the sellers' advisor in this transaction.
