Aberdeen acquires high street prime retail property in Copenhagen

9 Apr 2010

Aberdeen has acquired a prime retail property on behalf of Aberdeen Property Nordic Fund 1 SICAV-FIS. The property is located at the main pedestrian street in Copenhagen, Frederiksberggade, approx. 100 metres from the City Hall Square and Tivoli. Its 3,300 square metres of lettable area is primarily let out to the successful Swedish fashion chain ‘Gina Tricot’.

As of 1 May 2010 Aberdeen will acquire the property from a private seller. The acquisition price is Dkr 184.0 (€ 24.5 m).

Aberdeen Property Nordic Fund 1 SICAV-FIS invests in Nordic commercial properties for mainly German institutional investors.

Aberdeen expects to increase the value of the property through active management and optimisation of the operation of the property.

Marc Pamin, manager of Aberdeen Property Investors Deutschland GmbH commented:

“We are very pleased to have acquired this prime retail property in one of the most attractive retail locations in Copenhagen. The acquisition is a perfect match to the Fund’s investment strategy to allocate towards high quality and low risk properties in order to further enhance the risk/return profile of the portfolio.”

For further information, please contact:

Marc Pamin, Fund Manager, Aberdeen Property Investors Deutschland GmbH
Tel: + 49 (0)69 76 80 72 351, e-mail: marc.pamin@aberdeenpropertyinvestors.com

Tonny Nielsen, CEO, Aberdeen Property Investors Denmark A/S
Tel: +45 33 44 40 00, e-mail: tonny.nielsen@aberdeenpropertyinvestors.com

Tom Eckersley, Maitland
Tel: +44 207 379 5151, e-mail: teckersley@maitland.co.uk