Standard Life Investments has made its first acquisitions in Sweden on behalf of its European Property Growth Fund (EPGF) for EUR 35 mln. The first transaction involved a terrace of four retail warehouse units in the north of Stockholm. The buildings provide a total of just over 4,000 m[sup]2[/sup] of lettable space. Construction of a further three units, totalling 3,700 m2, will begin in the second half of 2007.
Standard Life Investments has made its first acquisitions in Sweden on behalf of its European Property Growth Fund (EPGF) for EUR 35 mln. The first transaction involved a terrace of four retail warehouse units in the north of Stockholm. The buildings provide a total of just over 4,000 m2 of lettable space. Construction of a further three units, totalling 3,700 m2, will begin in the second half of 2007.
The fund's second Swedish acquisition was of a terrace of eight retail warehouse units located in Vasteras, a city west of Stockholm. The complex totals 5,600 m2 of lettable retail space on a site of 25,600 m2.
In February, Standard Life Investments announced that EPFG had committed a total of EUR 91 mln to acquisitions in Germany, the Czech Republic and Hungary. For the 12 months to 31 March 2007, the fund returned 25.9%, Standard Life said.
