Aberdeen wins as Nordic property market sees structural change

OutsorcingA Danish charity has outsourced its property investment to Aberdeen Asset Management.

The portfolio of 17 Danish residential and commercial properties belonging to Aa V Jensen Charity Foundation is worth €170 million.

Mette Skov, president of the charity, said: “Having a professional asset manager like Aberdeen to actively manage our properties is crucial to creating satisfactory returns in a property portfolio.”

Tonny Nielsen, Nordic head of investment management at Aberdeen, said he expected more investors in the Nordic region to follow a pattern that is creating a structural change towards more segregated property mandates with professional property asset managers to substitute in-house management and low quality administration.

Aberdeen announced the win earlier this week and also said that Sweden’s SEB Trygg Liv, the life division of SEB bank, had extended its property asset management agreement with Aberdeen for another three years.  Aberdeen has managed the €2 billion property portfolio in Sweden since January 2010, with the aim of reducing vacancy rates and increase sustainability credentials of the properties.

Of the portfolio’s total 520,000 square meters, 135,000 square meters have been let or renegotiated. Five properties have been certified as Green Buildings and another seven are expected to be certified shortly by an equivalent local sustainability standard.

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