Aberdeen acquires Finnish property investor
UK - Aberdeen Property Investors ("API") says it will increase its presence in the Nordic region with the acquisition of Antilooppi Oy, the property management company of Finland’s largest institutional property investor, Ilmarinen Mutual Pension Insurance Company.
Antilooppi Oy manages Ilmarinen’s property portfolio, which includes 1.4m sq metres of commercial properties located throughout Finland, with a valuation of e2.3bln. API says its Nordic region will employ all 70 existing staff at Antilooppi Oy as part of the transaction.
Rickard Backlund, API’s chief executive in the Nordic region, says the acquisition recognises the increasing importance of the Finnish property investment market. “This transaction will reinforce AP’s dominant position in the Nordic region,” he says.
API, part of Aberdeen Asset Management, manages over e38.4 bln in assets.