Lemminkäinen sells terminal warehouse building to Aberdeen Property Fund Finland
LEMMINKÄINEN CORPORATION PRESS RELEASE 30.12.2010, 3.00 P.M.
LEMMINKÄINEN SELLS TERMINAL WAREHOUSE BUILDING TO ABERDEEN PROPERTY FUND FINLAND
Lemminkäinen has sold a terminal warehouse building, located in Hämeenlinna, to Aberdeen Property Fund Finland I Ky, a property fund managed by Aberdeen Asset Management Finland Oy. The parties have agreed that the selling price is not made public.
The sold property, Megahub 2 of Kiinteistö Oy Hämeenlinna, is located in Hämeenlinna, on the Moreeni industrial estate, and its rentable total floor area is approximately 16,300 m². The first construction phase for the terminal warehouse is complete, and construction work for the second phase is estimated to be ready in July 2011. Tenants of the property are Oy Schenker East Ab and Berner Pultti Oy.
"Logistically the location is excellent, and the Moreeni Industrial Park in Hämeenlinna has developed into a significant logistics hub. The fund is therefore very satisfied with the sale concluded with Lemminkäinen," says Deputy Fund Manager Jari Pouttu of Aberdeen Property Fund Finland I Ky.
Aventum Real Estate provided advisory services to the selling party in the transaction.
Regional Director Tapani Pöyry
Lemminkäinen Talo Oy Kaakkois-Suomi
Puh. 02071 54383
Deputy Fund Manager Jari Pouttu
Aberdeen Asset Management Finland Oy
Puh. 010 3040 354
NASDAQ OMX Helsinki
Lemminkäinen Groupoperates in all areas of the construction sector. The Group's business sectors are Building Construction, Infrastructure Construction, Technical Building Services, and Building Products. As of 1 January 2011, the operations of Building Products will be transferred to the Infrastructure Construction business sector. Net sales in 2009 were approx. EUR 2.0 billion, of which international operations accounted for over a quarter. The Group employs about 8,600 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com
Aberdeen Asset Managementis an independent asset management group, which has been listed on the London Stock Exchange since 1991. The Company was originally founded in Aberdeen, Scotland in 1983. The Group has 31 offices in 26 countries and over 1,800 staff located around the world.
Aberdeen invests worldwide on behalf of clients globally across the four major asset classes of alternatives, equities, fixed income and property. Today the Company has assets under management of €206.3 billion*.
In property alone, Aberdeen manages some €25 billion* of assets in Europe, Asia and North America through property funds and separate account mandates. Clients are solely third party clients and primarily institutional investors. They are served by some 390 property professionals at offices in 13 European countries, and in Singapore.
* As at 30 September 2010
Aberdeen Property Fund Finland I Ky (APFF)is an open-ended property fund established by Aberdeen Asset Management in December 2005. The Fund is an open-ended fund; that is, its equity and the number of investors may vary and it has no pre-set maturity date. The Fund’s strategy is to create a highly diversified property portfolio, primarily located outside the Helsinki Metropolitan Area. In this the Fund takes advantage of the local experience of Aberdeen’s staff. As at 30 September 2010, the portfolio consisted of 89 properties and was valued at €247.11 million, with a total rentable area of 260,000 square metres. The fund has 23 investors.