Aberdeen Property Funds Pan-Nordic has agreed to acquire a property portfolio in Gothenburg for €140 million. The portfolio of 100,000 m² in Gothenburg and Mölndal consists largely of offices, but also includes some residential units and retail space.
The acquisition fits into the fund's strategy to build up a well-diversified portfolio of properties in the Nordic countries, along with limited exposure in the Baltic States. Sweden is a key sub-market for Aberdeen Property Fund Pan-Nordic, which plans to allocate a substantial portion of its invested capital to Swedish properties. Following the acquisition, the fund's portfolio comprises 20 properties in Sweden, Norway and Denmark.
Trygve Sletteberg, Fund Manager Aberdeen Property Funds Pan-Nordic comments, "Our forecasts indicate that the Swedish and Nordic property markets will remain buoyant vis-à-vis the rest of Europe in the immediate future. Pan-Nordic has invested more than €770 million in the Nordic property market since closing on 31 October 2006. The fund's aim is to reach a target investment size of minimum €1.5 billion in the region within a two year period."