Aberdeen Property Fund Denmark acquires seven properties and raises further capital (DK)

Aberdeen Property Fund Denmark continues to acquire properties at a rapid pace. Over the past three months the company has acquired 7 commercial properties in Denmark of some 110,000 m² for approx. €90 million. The fund now has properties of a total value of €400 million under management.

Five of the properties are located in the Greater Copenhagen area and two logistics properties are located in Horsens.

The Fund also announces that it has sold off a small shopping center in Køge, south of Copenhagen, as the property no longer meets the defined strategy of the fund.

Aberdeen Property Fund Denmark has raised an additional €27 million as at 29 December 2006. The additional investment was made by nine investors, including the international asset management company, Schroder Property Investment Management.

Tonny Nielsen, CEO at Aberdeen Property Investors Denmark A/S commented:
"With these investments, the fund considerably increases its share of logistics properties, in line with its investment strategy. We feel confident that the properties will generate a stable good return.

"During 2006 Aberdeen raised more than €110 million on behalf of its Danish property fund and the fund's share capital has more than doubled. In total, the fund now has approx. €400 million under management.

"In addition, we have made €300 million worth of investments during the year on behalf of the Danish fund and two of Aberdeen's Nordic property funds."

Source: Aberdeen

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