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. Last Updated: 07/27/2016

Aberdeen Property Goes to St. Pete

LONDON -- Aberdeen Property Investors said Friday that it had opened its first Russian office in a bid to cash in on rising investor interest in the country.

In a statement, Aberdeen said it had recruited Ole Dall-Hansen, former director of fundraising and investor relations at Baltic Property Trust, to head its new St. Petersburg-based team.

The company said it would start its first Russian commercial property fund during the third quarter of 2007. It would be aimed at institutional investors and pursue a higher-risk investment strategy to maximize returns.

"Many of our institutional clients have expressed an interest in gaining exposure to the Eastern European property markets," Ubbe Strihagen, international director of Aberdeen Property Investors, said.