Aberdeen Property Investors has won a competitive tender for an asset management mandate which will more than double the value of its properties under management in Sweden.
In a deal announced today, Aberdeen has won an instruction to manage €1.4 billion of offices and retail property owned by Gamla SEB Trygg Liv, part of Sweden’s SEB Bank. The mandate brings the total value of assets under management in Sweden through property funds and separate account mandates to €3.1 billion.
The agreement to manage the portfolio, which comprises 72 properties totalling 525,000 square metres of commercial space, will commence from the start of 2010. The assets are spread across the Swedish cities of Gothenburg, Uppsala, Malmo and Helsingborg.