LONDON-Aberdeen Property Investors has bought Antilooppi Oy, the property asset management arm of Ilmarinen Mutual Pension Insurance Company, Finland’s biggest institutional property investor. The outsourcing deal reinforces Aberdeen’s place as the dominant player in the region.
Antilooppi Oy manages Ilmarinen’s 15 million-sf property portfolio, located throughout Finland, with a valuation of €2.3 billion ($2.3 billion). Aberdeen Property Investors Nordic Region will employ all 70 of Antilooppi Oy’s existing staff.
Rickard Backlund, API’s Chief Executive in the Nordic Region said: “API recognised the increasing importance of the Finnish property investment market a couple of years ago when we opened an office in Helsinki in order to service both Finnish as well as other regional clients. This transaction will reinforce API’s dominant position in the Nordic region”.