Managing More in the Land of Thor

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CBRE has been appointed to manage a property portfolio of 290 assets in the Nordic region.

Under the recently signed agreement, CBRE will take responsibility for the property management of the assets of Aberdeen Asset Management (AAM), alongside SPV accounting and administration, in the Nordic area.

AAM’s property in this region includes offices, shopping centres, industrial and residential assets covering Denmark, Sweden, Norway and Finland. In addition, due to the size and scope of the agreement, approximately 60 Aberdeen employees will transfer to CBRE.

This appointment is the first time AAM has outsourced its property management and adjoining accounting functions in the region, making CBRE one of the largest outsourced providers of property management in Scandinavia.

“The outsourcing of these functions is part of our strategy to unify our international business model and align our Nordic business with other parts of Aberdeen’s property platform,” explained Pertti Vanhanen, Global Head of Property, AAM. “By creating an operating model that ensures a clear focus for our teams on fund and asset management, including strategic letting and development services, we are well placed to provide a cost effective, focused and quality service to our clients and help position our international property business for future growth in the Nordics. CBRE’s expertise and scale in the region makes them an ideal partner.”

Picture: CBRE has taken over the asset management of AAM’s Nordic properties including this one in Linköping, Sweden

Article written by Robin Snow

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