Aberdeen Immobilien's Degi German Business fund has sold four assets to a German institutional investor.
Aberdeen Immobilien's Degi German Business fund has sold four assets to a German institutional investor.
The properties are located in Berlin (office building at Kurf眉rstendamm 38-39), Dusseldorf (office asset at Hans-B枚ckler-Stra脽e 1), Hanover (office at G眉nther-Wagner-Allee 14-16a) and Andernach (shopping centre Einkaufswelt Andernach).
Aberdeen said the sale has reduced the value of the open-ended fund in liquidation by more than half to around 鈧�105 mln.
Aberdeen announced a year ago that it planned to liquidate the 鈧�219 mln Degi German Business fund by November 2015.
The fund, which was launched in December 2006, suffered a liquidity squeeze as a result of the global financial crisis and was forced to halt redemptions in November 2010.
