Aberdeen Property Investors is to acquire Catella’s property management companies in Belgium and the Netherlands. The acquisition is part of Aberdeen’s strategy of expanding in the European property investment market.
Meanwhile, Catella is gearing up to accelerate its involvement in transaction services in both these countries. Aberdeen and Catella also establish an agreement for future cooperation in these markets.
Operations will be taken over with immediate effect with 15 institutional clients and using the current workforce of 21 employees in the Netherlands and 17 in Belgium. In the Netherlands, the acquisition entails a merger with Aberdeen’s existing operations, while in Belgium it will form the basis for a new Aberdeen office.
In accordance with Catella’s overriding business plan, Catella’s continuing efforts in the Benelux area will focus on property-related corporate finance and transaction services. The next step will be to start up a dedicated transactions company in Amsterdam with the aim of attaining a similar market-leading position in Holland as that attained by Catella in Belgium.
Local management remain in place. Nico Tates, CEO of Aberdeen in the Netherlands, has been appointed Managing Director for both Aberdeen Property Investors Belgium and the Netherlands. “We see this property management business as an excellent platform to expand our investment management services. Together with the present Property Management team we will invest in the Company’s business infrastructure to add new products and secure a top quality service to Clients,” says Nico Tates.
“Catella’s property management companies command a strong market position, giving Aberdeen excellent potential for promoting its continuing development of property-management operations. The required commitment does not suit our strategy and thus we are very satisfied with Aberdeen as the new owner,” explains Misha Moeremans, Deputy Group Executive and Head of Business Development at Catella Property Group.
Aberdeen Property Investors is developing a European operation for asset management in the property field. The strategy is to establish a presence in key markets for property investments and offer opportunities for European property funds in their efforts to facilitate investors in international property investments.
“Activities in Belgium and the Netherlands represent a base for our continuing European expansion as part of our ambition to support international property investments by investors. The operations involve many attractive customers to whom we believe we can offer further support,” notes Rickard Backlund, CEO, Aberdeen Property Investors.
Source: Catella Property Group