API's first Private Property Limited Partnership achieves investment result of 10.1% over 2003

Aberdeen Property Investors Continental Europe’s first Dutch Private Limited Partnership, Renderend Bezit I CV, that invests in Dutch commercial properties for high net worth private investors has achieved a total investment return of 10.1% for 2003.

Renderend Bezit I CV was launched in May 2003 and the total invested capital amounts to € 11 million. The portfolio comprises three Dutch properties including an office building leased to the Friesland employment service; a retail branch of ING bank in a shopping centre in Amstelveen, a suburb of Amsterdam; and an industrial property in the Amsterdam West area let to Initial Hokatex.

Because of the diversity in types of property, the high quality of the tenants and the strong covenants a defensive investment has been realised. The average cash on cash return is expected to be 9.2% per year.

Distribution centre Bijsterhuizen now fully occupied
CELOGIX Property Fund (“CELOGIX”), the Euro Zone logistics and distribution property fund managed by Aberdeen Property Investors Continental Europe, has let 9,000 m² in one of its buildings at Bijsterhuizen in Nijmegen, the Netherlands. The tenant is a supplier of IT products to well-known A-brands. The lease is for a combination of storage and distribution space (8,500 m²) and offices (470 m²). Following this transaction, the logistics distribution centre Bijsterhuizen (18,000 m²) is now fully occupied. The letting was realised in close cooperation with Verbeek Bedrijfsmakelaars (IBG) from Nijmegen, the Netherlands.

Source: Aberdeen Property Investors Continental Europe

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