CBRE has been appointed by Aberdeen Asset Management (AAM) to manage a real estate portfolio of 290 assets in the Nordic region.
Under the recently signed agreement, CBRE will take responsibility for the property management of the assets, alongside SPV accounting and administration, in the region. AAM’s Nordic real estate includes offices, shopping centres, industrial and residential assets covering Denmark, Sweden, Norway and Finland. In addition, due to the size and scope of the agreement, approximately 60 Aberdeen employees will transfer to CBRE.
This appointment marks the first time AAM has outsourced its property management and adjoining accounting functions in the region making CBRE one of the largest outsourced providers of property management in the Nordics.
Pertti Vanhanen, global head of property at Aberdeen Asset Management commented: “The outsourcing of these functions is part of our strategy to unify our international business model and align our Nordic business with other parts of Aberdeen’s property platform. By creating an operating model that ensures a clear focus for our teams on fund and asset management, including strategic letting and development services, we are well placed to provide a cost-effective, focused and quality service to our clients and help position our international Property business for future growth in the Nordics. CBRE’s expertise and scale in the region makes them an ideal partner.”
Nigel Biggs, executive director – EMEA Asset Services at CBRE, added: “This is the first time Aberdeen Asset Management has outsourced its real estate requirements in the Nordics, and we are naturally delighted to be managing a portfolio of this scale on their behalf. We look forward to welcoming 60 Aberdeen employees to work in tandem with us to ensure their overarching corporate real estate strategy is executed with first class delivery.”
