Aberdeen Property Fund Finland I Ky, a property fund launched by Aberdeen Property Investors Finland Oy, has signed agreements to purchase 16 properties. Aberdeen Property Fund Finland I Ky was launched by Aberdeen in September 2005. The Fund had its first closing on 15 December 2005 when it raised €46 million, mainly from Finnish institutions.
The 16 properties acquired comprise retail and logistics properties with a combined area of about 42,000 sqm, and are located mostly in Southern Finland (Espoo, Vantaa, Pori and Jyväskylä). The properties are mostly fully leased with long lease agreements.
Pertti Vanhanen, CEO of Aberdeen Property Investors Finland Oy commented:
This is a good start for the Fund. Reliable tenants with good lease maturity create a solid base for success. The Fund has been well received as a new active operator in the market and we believe that there is the opportunity to purchase further suitable properties in the future.
Markku Aho, Director of Aberdeen Property Investors Finland added:
The fund has already had commitments from a number of new investors, including a growing number from outside Finland, showing there is healthy demand for Finnish property from institutional investors.
Source: Aberdeen Property Investors