Aberdeen Property Investors has signed an agreement with Gamla SEB Trygg Liv, part of Swedish SEB bank, regarding the property asset management of their property portfolio in Sweden. Aberdeen won the mandate in a competitive tender.
The portfolio has a market value of approximately 1.4 billion (SEK 15 billion) and consists mainly of offices with elements of retail in Stockholm inner city, and properties in Gothenburg, Uppsala, Malmö and Helsingborg. The portfolio comprises 72 properties in total with an area of approximately 525,000 m².
Jan Sööder, MD Aberdeen Property Investors Sweden, commented: "We are proud to have won this prestigious mandate and look forward to working together with Gamla SEB Trygg Liv. Aberdeen Property Investors represents high quality in management and development of properties that historically has generated good results for our clients. I am very pleased that we now get the opportunity to produce good returns in Gamla SEB Trygg Liv's property portfolio."
Marita Loft, SEB commented: "In a combined evaluation of quality and price, we chose Aberdeen Property Investors, who offered the best total solution."
Aberdeen Property Investors mandate for Gamla SEB Trygg Liv will commence at the beginning of 2010.
The Gamla SEB Trygg Liv mandate will more than double Aberdeen Property Investors property assets under management in the Swedish market. The company now manages approximately 3.1 billion (SEK 33 billion) of assets through property funds and separate account mandates for institutional clients.