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«Aberdeen Property Nordic Fund I SICAV (FIS) announces that it has acquired a logistics and distribution centre of approximately 70,000 sqm in the Torsvik industrial area, 10 km south of Jönköping in Sweden. The property has a lettable area of 40,400 sqm, consisting mainly of warehouse space. The property, built in 1999 and extended in 2003, is fully let with an eleven years’ lease term. Its net initial yield is 6.1%. . This is the fund’s third acquisition in the first quarter 2008, following the acquisitions of two office properties in Norway in January and February. As a result, the fund has now invested approximately €140m in the Nordic region.
The first Norwegian acquisition was St. Olavsgate 23, situated in Oslo city centre. Constructed in 1900 as a Methodist church it is currently being modernised, whilst retaining its original features. It has a total lettable area of around 4,100 sqm over five floors; it has long-term lease contracts and no vacancies. The property has a net initial yield of 6.05%. The second Oslo office building acquired for the fund has a lettable space of more than 11,000 sqm and is spread over seven floors. Built in the early 1930s, it was completely refurbished in 2001. It has a net initial yield of 5.9%». (CS della Società)
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