DENMARK - ATP has entered into the first of a planned series of property investments throughout Europe by investing EUR50m into the Euro Growth II property fund managed by LaSalle Investment Management.
Advised by Bacon & Woodrow, ATP is already analysing further investment opportunities and expects to close one more investment agreement before summer 2002.
Michael Nielsen, investment manager at ATP, said: We endeavour to realise high, long-term yields without running any unacceptable risks. Our policy of European investment continues to underline this and we look forward to investing further in high quality funds with clear investment objectives.
During the coming three to four years ATP intends to invest a further EUR500m in 15-20 European property investment funds, bringing its total property portfolio up to EUR2.2 bn. This corresponds to approximately 5% of ATP’s total assets.
Nielsen added: The 15-20 funds will be diversified over the full risk-return spectrum ranging from core funds to the more opportunistic type of funds. For that reason we are always keen to look for new investment opportunities and in order to get a full overview of all the existing funds on the market, we invite as many funds as possible to contact us.
ATP has appointed Bacon & Woodrow to do the screening of the funds. ATP intends, however, to be very much involved in the entire process.
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