DGAP-News: SEB Asset Management expands its business in Asia
(firmenpresse) - DGAP-News: SEB Asset Management / Key word(s): Funds/Real Estate
SEB Asset Management expands its business in Asia
28.08.2012 / 11:25
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SEB Asset Management is acquiring partial ownership of 9,035 sqm of the
mixed-use 'Abeno Nini' commercial building in Osaka, Japan. The seller of
the office, hotel and retail space is the property developer 'Osaka
Colors'. The total investment costs amount to JPY 7 billion (approximately
EUR 72 million). This is SEB Asset Management's seventh investment on the
Japanese real estate market since it first entered it in 2007. The property
will be added to the portfolio of the SEB Asia REI real estate special
fund. SEB Asset Management's eight-strong team in Singapore manages 14
properties in the Asia-Pacific region worth more than EUR 1.4 billion for
the company's various funds.
'This equity interest gives us the opportunity to invest anticyclically on
the Japanese real estate market,' said Siegfried Cofalka, the SEB Asset
Management AG Managing Board member responsible for the institutional real
estate business. 'This newly constructed building is a compelling
investment since it is fully let to creditworthy tenants for the long term,
offers a good location near a major station and has an attractive initial
return.'
The property, which was completed in February 2012, combines different
types of use over 24 floors and two storeys below ground. It is fully let -
the average remaining lease term is 12.8 years. A Japanese hotel operator
and a bank are the main tenants of the space owned by SEB Asset Management.
With 2.6 million inhabitants, Osaka is Japan's third-largest city and the
most important economic centre after Tokyo. The property is located in the
up-and-coming district of Tennoji in the centre of Osaka, with the 'Abeno
CUES Town' retail location in the immediate vicinity.
SEB Asia REI enables institutional investors to invest in the Asia-Pacific
real estate markets via the familiar structure of a German special fund.
This means that it is particularly suited to German institutional investors
that are subject to the Versicherungsaufsichtsgesetz (VAG - German
Insurance Supervision Act) and to foreign investors that are subject to
similar regulations. SEB Asia REI pursues a core/core plus strategy with no
restriction on duration. The average target return (BVI) is eight per cent
per year, with the average target annual distribution being five per cent.
The minimum investment is EUR 20 million.
Press contact
SEB Asset Management
Brigitte Schroll, Head of Communications
Karolin Jäger, Press Officer
Phone: +49 69 27299-1502 / -1503
E-Mail: presse(at)sebam.de
Twitter: twitter.com/seb_am
SEB Group
SEB is a leading Nordic financial services group. As a relationship bank,
SEB in Sweden and the Baltic countries offers financial advice and a wide
range of other financial services. In Denmark, Finland, Norway and Germany
the bank's operations have a strong focus on corporate and investment
banking based on a full-service offering to corporate and institutional
clients. The international nature of SEB's business is reflected in its
presence in 20 countries worldwide. On 31 March 2012, the Group's total
assets amounted to SEK 2,331 billion (~EUR 264 bn) while its assets under
management totalled SEK 1,317 billion (~EUR 149 bn). The Group has about
17,000 employees. Read more about SEB at www.sebgroup.com.
SEB Asset Management Germany
SEB Asset Management (SEB AM), Frankfurt, is the SEB Group's specialist
investment house in Germany for actively managed securities and real estate
investment funds. As part of the Group's Wealth Management division, which
comprises over 1.000 employees and has SEK 1,226 billion (around EUR 139
bn) in assets under management, SEB AM offers global expertise in
traditional and innovative asset classes and various investment styles. Its
investment strategy features active management in small, specialist
investment teams. By combining global and local knowledge, SEB offers
institutional and retail clients investment solutions with a broad range of
risk/return profiles.
In Germany, the fund management company has a clearly structured offering
comprising mutual and special funds complemented by client-specific
investment solutions and asset management mandates. As part of SEB's
international network, SEB AM has positioned itself as a specialist for
global real estate management and risk-adjusted investment concepts for
European bonds, multi-assets strategies and European value shares. SEB AM
has been one of the leading real estate fund managers for many years. Since
2005, it has had an M2 Real Estate Manager rating from Fitch.
End of financial news
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28.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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183108 28.08.2012
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Datum: 28.08.2012 - 11:25 Uhr
Sprache: Deutsch
News-ID 177992
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