TD News International Location: Aberdeen

Aberdeen: Residential Spezialfonds invested €265mn

23/01/2014 During 2013, Aberdeen Asset Management bought real estate in Germany to the tune of around €265mn for two residential Spezialfonds. Of this, €225mn went to a fund issued in 2009 for a large institutional investor from Germany. This fund has now reached total real estate assets of approximately €725mn. For the “Städte und Wohnen” Spezialfonds, [...]

Aberdeen: Real estate sold for about €1.1bn in 2011

06/02/2012 Aberdeen Immobilien KAG sold properties valued at around €1.1bn from its public real estate funds in 2011. At the same time, properties with a volume of about €650mn were purchased for its real estate spezialfonds. The total transaction volume thus amounted to around €1.7bn. Moreover, Aberdeen’s German real estate division acted as an adviser for [...]

Aberdeen: Degi Global Business to be phased out

19/08/2011 Aberdeen Immobilien KAG has decided in favor of dissolving its frozen open-ended Degi Global Business fund. The fund is to be phased out at the end of June, 2014, at the latest. The fund for institutionals issued six years ago has been frozen since November, 2009, and would have to be reopened this fall. But [...]

Aberdeen: 35,000 sqm office property sold in Rome

10/01/2011 Aberdeen Immobilien has sold a 35,000 sqm office building in Rome’s banking district. The company confirmed the transaction without divulging any information with regard to price or buyer. The property, rented to the Italian Ministry of Health, was held via a firm in which the Degi Europa open-ended real estate fund owns a 60% stake. [...]

Aberdeen: Retail property acquired in Flensburg

18/11/2010 Aberdeen Asset Management has acquired a building ensemble in Flensburg for its Aberdeen European Shopping Property Fund. The seller is DIC Asset. The ensemble consists of a number of stores on Flensburg’s shopping promenade, Holm; it totals 7,000 sqm of completely rented usable area. H&M, Peek & Cloppenburg, Ecco and Bijou Brigitte are among the [...]

Aberdeen: Degi International and Degi Business remain closed

05/11/2010 Degi International, the open-ended real estate fund issued by Aberdeen Immobilien, will remain frozen. This morning, Aberdeen announced that its suspension of redemptions will be extended by twelve months until, at the latest, November 16, 2011. Suspension will also be extended twelve months, until at the latest, November 11, 2011, for Degi Global Business, which [...]

Aberdeen: Degi Europa sells Hürth Park for €157mn

02/11/2010 The first sale from the portfolio of the recently dissolved open-ended property fund, Degi Europa, has been finalized: Aberdeen Immobilien reported that its “Hürth Park” shopping center near Cologne will go to an international joint venture for €157.3mn. The joint venture consists of an added value fund managed by LaSalle Investment Management and a Canadian [...]

Aberdeen: Degi Europa will not reopen

22/10/2010 Contrary to previous plans, Aberdeen is dissolving its open-ended property fund, Degi Europa, saying that it cannot guarantee “that liquidity will suffice to satisfy requests for redemption.” Among other reasons, according to the management, are the events of the past week, in which the open-ended UBS 3 Sector Real Estate fund and an Allianz umbrella [...]

Aberdeen: Degi Europa increases liquidity through sale

04/10/2010 Aberdeen Immobilien has sold an office building that it held in its frozen, open-ended real estate fund, Degi Europa, and wants to reopen that fund on October 30. The property is the “CB 16” office tower with around 28,000 sqm of usable area in La Défense, near Paris, and the buyer is an institutional investor. [...]

Aberdeen: Thomas Beyerle reported to be leaving

17/08/2010 According to a report in the daily newspaper Die Welt, Chief Researcher Thomas Beyerle is going to leave the Aberdeen Property fund company at the end of the year. He is said to be negotiating, at the moment, with RREEF, the real estate fund subsidiary of Deutsche Bank. Since Degi was taken over by Aberdeen, [...]