Aberdeen Standard Investments and DEAS Group closes transaction
The Nordic real estate business of Aberdeen Standard Investments (ASI), covering real estate in Sweden, Norway, Finland, and Denmark, is of 31. of May acquired by DEAS Group, the leading asset management and property management group in Denmark.
The transaction results in DEAS Group taking over the management of a portfolio of 131 properties consisting of office, warehouse/logistics, retail, and residential buildings representing a value of EUR 2.5bn assets under management (AuM). At the same time, DEAS Asset Management A/S, the independent subsidiary within DEAS Group, will be handling a portfolio of Nordic assets EUR 1.8bn on behalf of the European and global funds within ASI.
Neil Slater, Global Head of Real Estate, Aberdeen Standard Investments commented:
Our growth strategy is built around our clients’ needs and that very much includes exposure to Nordics real estate. I am delighted to have entered into a strategic domestic asset management arrangement with DEAS Asset Management. Working with our own Nordics hub in Frankfurt, the relationship ensures we have excellent asset management on the ground and the capability to source and project manage developments for clients. We look forward to a strong strategic partnership that reiterates our commitment to evolve our real estate offering, ensuring it aligns with changing industry and human dynamics and client needs.
DEAS GROUP ENTERS THE NORDIC MARKETS
With the acquisition DEAS Group enters the Nordic markets, thereby providing access for investors to a solid setup and local real estate teams across Sweden, Norway, Finland, and Denmark.
Henrik Dahl Jeppesen, CEO, DEAS Group commented:
Our presence within the Nordic region implies that we are able to offer investors expert services within fund management, investment management, and asset management throughout the region. Our ambition is to attract local and international investors to the Nordic region as one unified investment market.
LOCAL EXPERTISE AND INSIGHT
As part of the transaction DEAS Asset Management now welcomes more than 70 new investment professionals with an extensive local market insight, competence, and proven track record on delivering attractive returns in all four countries.
Henrik Dahl Jeppesen added:
We look forward to an exciting journey together with our new, strong teams in Sweden, Norway, Finland and Denmark. Local expertise and insight are essential when investing on behalf of our clients, and they will be served by their local business partner that operates from our eight locations.
The new Nordic DEAS Asset Management-team operates as an independent brand under DEAS Group and will consist of more than 100 investment professionals located in Stockholm, Oslo, Bergen, Trondheim, and Helsinki as well as Aalborg, Aarhus, and Copenhagen.
Executive management team of DEAS Asset Management will consist of CEO Benny Buchardt Andersen and Co-CEO Thomas Wolff. Head of DEAS Asset Management in Sweden will be Joakim Nordblad, Thomas Wolff in Norway, Sanna Puhakainen in Finland and Benny Buchardt Andersen in Denmark.
As a result of the Nordic expansion, properties under DEAS Group's management will amount to more than EUR 34bn with more than 11m sqm spread over more than 2,600 properties in Sweden, Norway, Finland, and Denmark.
Published 01. June 2021