German lender Deutsche Genossenschafts-Hypothekenbank (DG Hyp) announced on Tuesday that it has provided a SEK 415 mln (EUR 40.3 mln ) facility to Aberdeen Property Investors (API). The loan will be used to finance the acquisition of two properties in Sweden by a fund managed by API. The assets are a new 14,200-m[sup]2[/sup] office building in Malmö and a 17,763-m[sup]2[/sup] retail property in Lindköping, that was extensively refurbished last year.
German lender Deutsche Genossenschafts-Hypothekenbank (DG Hyp) announced on Tuesday that it has provided a SEK 415 mln (EUR 40.3 mln ) facility to Aberdeen Property Investors (API). The loan will be used to finance the acquisition of two properties in Sweden by a fund managed by API. The assets are a new 14,200-m2 office building in Malmö and a 17,763-m2 retail property in Lindköping, that was extensively refurbished last year.
The properties are being acquired by the closed-end real estate fund 'Aberdeen Property Nordic Fund I SICAV-FIS'. The fund targets institutional investors and invests exclusively in prime real estate in the Nordic region.
Aberdeen Property Investors - the property investment division of Aberdeen Asset Management - is one of the leading real estate managers in Europe.
DG Hyp said it saw good potential in the Scandinavian market, and had therefore stepped up its financing activities in the region.
