Aberdeen Immobilien KAG said on Monday that its Degi International open-ended fund under liquidation has sold an office building in Calgary, Canada to an unnamed institutional investor.
Aberdeen Immobilien KAG said on Monday that its Degi International open-ended fund under liquidation has sold an office building in Calgary, Canada to an unnamed institutional investor.
The transaction price is slightly below the fair market value of the asset of C$356 mln (EUR 276 mln).
Located in the city centre of Calgary, Homburg Harris Center provides a total of 59,000 m2 of office space. It was acquired as a development project in 2007.
The transaction lifts Degi International's liquidity to around 20%, Aberdeen added in a statement.
The fund manager announced in October last year that it planned to liquidate its flagship Degi International fund due to the high number of redemption requests. The vehicle was initially planned to reopen in November.
Degi International owned a 32-property strong portfolio worth around EUR 1.5 bn.
