Aberdeen Property Investors, on behalf of its Pan-Nordic Fund, has acquired a portfolio of five office properties located in Tampere and Jyvaskyla in central Finland for a total of EUR 108 mln. This is the first Finnish purchase made by the Pan-Nordic fund since its launch last autumn. The fund recently acquired four office properties and developments in Oslo and Trondheim in Norway for a total value of some EUR 216 mln.

Aberdeen Property Investors, on behalf of its Pan-Nordic Fund, has acquired a portfolio of five office properties located in Tampere and Jyvaskyla in central Finland for a total of EUR 108 mln. This is the first Finnish purchase made by the Pan-Nordic fund since its launch last autumn. The fund recently acquired four office properties and developments in Oslo and Trondheim in Norway for a total value of some EUR 216 mln.

The fund aims to develop a highly diversified property portfolio in the Nordic countries, and to a lesser extent, in the Baltic States. Its portfolio consists of 14 properties across the Nordic countries with a total value of EUR 460 mln. The fund has a target investment size of EUR 1.5 bn.

Trygve Sletteberg, Fund Manager of the Aberdeen Property Funds SICAV Pan-Nordic said: 'This is the Pan-Nordic fund’s first investment in Finland and the portfolio fits well in the fund’s added-value risk profile. We see strong potential for further increases in value in these properties over time. We expect the Nordic region to provide stronger returns than property in other western European countries due to both the strong macro-economic environment and strong property fundamentals.'

Aberdeen Property Funds Pan-Nordic has raised a total of EUR 430 mln in equity from domestic and international investors since its first closing in October 2006. The next closing is expected on 27 September 2007.