Arlington Securities Ltd has completed the Â£50 million purchase of the UK & Europe property investment business of Aberdeen Asset Management plc and said it would operate under a new company structure as a result of the acquisition.
Chief executive Patrick Deigman said the 2 arms, Arlington Property Services and Arlington Property Investors, would have an operational board each, both containing senior management team members.
Aberdeen’s former chief executive, David Hunter, will be managing director of Arlington Property Investors, which has just joined a partnership with Lend Lease Corp to double the size of the Warrington shopping centre in England.
Arlington provides fund management, property & workplace solutions & services to organisations throughout Europe. Arlington Property Investors has more than Â£5 billion under management.
Arlington is a private property company which claims to be Europe’s leading business park owner, developer & service provider. It’s jointly owned by Legal & General Assurance Society Ltd, affiliates of Pricoa Property Private Equity Ltd and Middle Eastern investment group Akaria Investments Ltd.
Arlington, Pricoa & Akaria have set up a European business park joint venture which will own the 400,000mÂ² Paris International Business Park and develop new parks in Barcelona, Madrid & Brussels. They also have an interest in the Shanghai business park.
Pricoa Property Private Equity is the European arm of the Global Real Estate Private Equity & Merchant Banking Group of Prudential Real Estate Investors, of the US. Pricoa Property plc, an indirect subsidiary of Prudential Financial Inc, is based in London & is the holding company of Pricoa Property Investment Management Ltd and Pricoa Property Private Equity Ltd.
Websites: Arlington Securities Ltd