Aberdeen wins EUR 170m mandate in the Nordics

Aberdeen Asset Management has been awarded a property asset management contract by Danish Charity Foundation Aage V. Jensen to manage its directly owned Danish property portfolio of EUR 170 mln.

Until now, Aa. V. Jensen Charity Foundation has managed the 17 Danish residential and commercial properties itself while the property administration has been handled by an external party. 'Having a professional asset manager like Aberdeen to actively manage our properties is crucial to creating satisfactory returns in a property portfolio,' said Mette Skov, president of Aa. V. Jensen Charity Foundation.

In addition, SEB Trygg Liv has extended the current property asset management agreement in Sweden with Aberdeen for another three years. Aberdeen has managed SEB Trygg Liv's EUR 2 bn property portfolio in Sweden since January 2010, with the clear aim to reduce the vacancy rate and raise the profile of the portfolio in the field of sustainability.

Of the portfolio’s total 520,000 m2, 135,000 m² has been let or renegotiated. Five properties have been certified as Green Buildings and another seven are expected to be certified shortly by an equivalent local sustainability standard.

'Aberdeen Asset Management sees a structural change in the Nordic market towards more segregated property mandates with professional property asset managers to substitute in-house management and low quality administration and we expect more investors to follow this trend,' commented Tonny Nielsen, Nordic Head of Investment Management.

Aberdeen manages some EUR 9 bn of property assets in the Nordic region through property funds and separate account mandates.