abrdn Euro residential property fund tops €1bn

Aberdeen Standard Investments’ Pan-European Residential Property Fund (ASPER) said on Monday it has exceeded €1 billion of committed equity.

ASPER is an open-ended fund designed for institutional investors, which aims to deliver income and capital growth by investing in large, high quality, sustainably constructed, purpose built residential blocks in “triple A” locations — that provide accessibility, amenity and affordability for the occupier.

The ASPER fund passed the €1 billion landmark three years after being launched at the end of Q1 2018.

Having attracted sizeable commitments from international investors, the fund has secured over 40 modern and sustainable residential properties in nine countries across western Europe.

Acquisitions within the fund represent close to 5,000 residential apartment units.

On completion of existing developments, the portfolio value will be close to €1.6 billion.

Aberdeen Standard Investments, currently changing its name to abrdn, one of Europe’s largest real estate investment managers, managing €48.6 billion of real estate assets across UK, Europe and Asia, with offices in Edinburgh, London, Frankfurt, Paris, Stockholm, Copenhagen, Amsterdam, Hong Kong, Singapore and Boston.

abrdn manages £456.6 billion of total assets worldwide.

Marc Pamin, fund manager of Aberdeen Standard Pan-European Residential Property Fund, said: “We are delighted to achieve this landmark only three years after launching the fund.

“The quality of the portfolio and the secured pipeline represents real diversification opportunities for investors and we are keen to build upon this in the future.

“Demand for residential real estate across Europe’s major cities is increasing exponentially.

“The sector is rising to the challenge of developing a new kind of post-pandemic living space to meet the changing needs of a growing population.

“We believe this represents great opportunities for investors.”

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