Aberdeen fund shops in the Netherlands

Aberdeen Property Investors said on Friday that one of its Pan-European funds, Aberdeen European Balanced Property Fund, has acquired two properties in Heerhugowaard and Andelst in the Netherlands.

The first acquisition consists of four retail properties divided into 14 retail units and has a total area of 16,500 m². These properties are located on the Beveland retail warehouse park in Heerhugowaard, about 50km from Amsterdam and near the city of Alkmaar. The units' principal tenants are Jysk, Carpet Right and Beter Bed. Aberdeen was advised by Bregman Makelaardij in Alkmaar.

The second property is a 4,750 m² warehouse located on a warehouse park in the west of the Netherlands, near Nijmegen.

Aberdeen's European Balanced Property Fund, launched last year, has raised EUR 242 mln in equity from institutional investors to date. The fund currently has properties of a total asset value of EUR 215 mln under management in Finland, France, Belgium and the Netherlands. It has further deals in the pipeline in the Netherlands, Spain and France.

'Both properties are interesting investments with attractive yield levels and upward potential, combining both cash returns and long term capital growth. In terms of our international allocations, Dutch property is forecast to have above average European returns in 2008 underlining our confidence in these investments,' said Nico Tates, fund manager for Aberdeen European Balanced Property Fund.