Aberdeen completes lease agreement for 5,500 m² in Finland

Aberdeen Property Funds SICAV-FIS Pan-Nordic has completed a 5,500 m² lease agreement with the IT Company, Tieto, regarding the property at Mattilanniemi 8, Jyväskylä, Finland.

The fund has a value added profile and is aiming to provide excess returns to investors through active asset management. In this case the Tieto lease is the first step in changing the building into a diversified tenant structure. Further leasing deals are expected during the autumn. As of Q2 2009 the Aberdeen Property Funds SICAV-FIS Pan-Nordic has a diversified property portfolio located in Sweden, Norway, Denmark and Finland, to a total value of €894 million. Thomas Holm, Deputy Fund Manager, commented: “This is a good example of how we add value to investors through a successful local management organisation, providing attractive premises and an active asset management view on the property.” Sampsa Ratia, Local Fund Manager for Pan-Nordic Finland commented: “The advantage of having country specific and even region specific knowledge has always been understood at Aberdeen. This particular property is a good example of how attractiveness and potential, both from a location and quality aspect, were recognized at acquisition. There has been a strong local interest in the vacant premises and we have been successful in starting a turnaround despite difficult market conditions.” Over the past 9 months, Aberdeen has completed leases of in total more than 250,000 square metres in the Nordic region.