Aberdeen Property Funds Pan-Nordic has agreed to acquire a 100,000 m[sup]2[/sup] real estate portfolio in Sweden for EUR 140 mln. The portfolio in Gothenburg and Mölndal consists largely of offices, but includes some residential units and retail space.
Aberdeen Property Funds Pan-Nordic has agreed to acquire a 100,000 m2 real estate portfolio in Sweden for EUR 140 mln. The portfolio in Gothenburg and Mölndal consists largely of offices, but includes some residential units and retail space.
The fund, which is part of Aberdeen Property Investors. said the acquisition fits into the strategy to build up a well-diversified portfolio of properties in the Nordic countries, along with limited exposure in the Baltic States. Aberdeen views Sweden as a key sub-market and the Pan-Nordic fund plans to allocate a substantial portion of its invested capital to Swedish properties. Following the acquisition, the fund' portfolio comprises 20 properties in Sweden, Norway, Finland and Denmark.
Trygve Sletteberg, fund manager Aberdeen Property Funds Pan-Nordic commented: 'Our forecasts indicate that the Swedish and Nordic property markets will remain buoyant vis-à-vis the rest of Europe in the immediate future. Pan-Nordic has invested more than EUR 770 mln in the Nordic property market since closing on the 31 October 2006. The fund's aim is to reach a target investment size of minimum EUR 1.5 bn in the region within a two-year period.'