Aberdeen Property Investors has acquired a €108 million office property in central Stockholm from Swedish Match. The 40,000 square meter building is the head office of Swedish Match, a Swedish tobacco products company. The site will continue to be the head office for the company after the acquisition.
The investment was made through Aberdeen Property Funds SICAV Pan-Nordic, which has been active in the Nordic region for the past several months. In July, acquisitions totalling €328 million were closed in Norway and Finland. The fund’s total portfolio currently amounts to €618 million and includes properties in all four Nordic countries.
The fund, which had its first closing in October 2006, secured a further €60 million of equity commitments on June 21st, and has now raised a total of approximately €428 million in equity, according to the firm. The fund has received money from 26 different investors throughout Europe.
Espen Klevmark, Head of Product development at Aberdeen Property Investors, said the fund has a target investment size of at least €1.5 billion, and the next closing will take place on September 27th.