Aberdeens Finnish property fund bought 4 properties from Pension Fund of Valio (FI)

Aberdeen Property Fund Finland I Ky, a property fund launched by Aberdeen Property Investors Finland Oy, has signed an agreement to purchase four real estates from Pension Fund of Valio (Valion Eläkekassa).

The semi open-ended property fund Aberdeen Property Fund Finland I Ky (the Fund) was launched by Aberdeen in August 2005 and it has raised now €53.5 million of equity.

The Fund has purchased last week a property portfolio including four commercial and office properties from Jyväskylä, Vantaa and Helsinki. The combined area of the properties is about 21,000 m². The premises are fully leased.

Ownership of the properties was transferred to the Fund from 14th of July 2006.

In May the Fund purchased two properties from OKO Bank in Oulu and one property owned by Barreli Kiinteistöt Oy in Raahe. The premises are fully leased.

"These properties complete our existing property portfolio which consist commercial and logistic properties. According to the strategy of the Fund we have diversified our portfolio into different types of properties and purchased properties also outside the Metropolitan area", says Jari Pouttu the Asset Manager for the Fund. "We have been very active in the market and succeeded to purchase 22 properties which combined area is about 68,000 m² and total value about €65 million in just six months", Pouttu continues.

Aberdeen's Fund is open for new commitments and the next closing is in the end of September. "In the end of June we raised additional €7.3 million from Finnish investors and it seems that interest in indirect property investments is still growing", discloses Director Markku Aho from Aberdeen Property Investors Finland.

Source: Aberdeen

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