€1.3bn property mandate
Danish management deal for Aberdeen
From 1 February Aberdeen will manage Danica Pension’s portfolio of 107 residential and commercial properties in Denmark.
Danica Pension is part of the Danske Bank group, and is one of the largest property owners in Denmark with a portfolio of €3.3 billion.
Aberdeen will also be managing about €5 million of property development projects once they are completed. The aim will be to optimise the value of the property portfolio through active management, while the current property administrator will continue to be responsible for letting and administration.
Tonny Nielsen, country manager and head of strategic projects – property, at Aberdeen, said: “Our aim will be to capitalise on our experience and expertise of the Danish property market to create value for Danica Pension investors. We look forward to becoming an extension of Danica Pension’s team driving value through its property portfolio.”
This mandate will mean Aberdeen will be managing properties in Denmark worth a total of €3.1 billion.