Aberdeen fund shops in France and the Netherlands

Aberdeen Property Investors said that its European Balanced Property Fund has acquired properties in both France and the Netherlands for an undisclosed amount. The fund has bought the Omega B office building located in Levallois-Perret, North West of Paris. The property provides 4,780 m² of space let to multiple tenants including BNP Paribas, Harisson & Wolf and Hachette, as well as 99 indoor parking places. L'Etoile Properties advised Aberdeen. The vendor was a fund managed by Lasalle Investments Partners. The second acquisition is a r9,374 m² etail property which is a part of the Hoendiep retail Warehouse Park in the west part of Groningen, The Netherlands. The principal tenants are Leenbakker and Prenatal.

'Both of these acquisitions fit in well with our strategy of building a risk-averse portfolio of European properties. The property in France is a landmark building with the potential to deliver attractive returns in a competitive office property market, whilst the retail property in the Netherlands will deliver an attractive yield for our investors,' said Nico Tates, fund manager of the fund.

Launched last year, Aberdeen's European Balanced Property Fund has raised EUR 242mln in equity from institutional investors. The fund currently has assets under management of EUR 194.5mln with further deals in the pipeline in the Netherlands, Spain and France.

Click on the link below to read: Aberdeen completes GPI deal