API buys into France and Netherlands

The European firm is building on €194 million of assets acquired so far for its balanced trust fund.

Aberdeen Property Investors has acquired assets in France and the Netherlands for its Aberdeen European Balanced Property fund.

The first property is an office building, Omega B, located on the corner of Rue Baudin-Rue Thierry le Luron in Levallois-Perret. Levallois is on the North West border of Paris, with almost 1 million square meters of modern offices.

The second acquisition is a retail property which is a part of the retail warehouse park Hoendiep in Groningen City, the Netherlands. The vendor was LaSalle Investments.

Commenting on the acquisitions, Nico Tates, fund manager said: “Both of these acquisitions fit in well with our strategy of building a risk-averse portfolio of European properties.”

Aberdeen's European Balanced Property Fund, launched last year, has raised €242 million ($379 million) in equity from institutional investors to date. The fund currently has assets under management of €194.5 million with further deals in the pipeline in the Netherlands, Spain and France.