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Aberdeen Standard Investments buys 2 projects in Paris, Vienna for €120M

Asset manager Aberdeen Standard Investments purchased two residential projects in Paris and Vienna on behalf of its Pan-European Residential Property fund for a total of €120 million, IPE Real Assets reported.

The two developments will offer an aggregate of 260 residential units and eight commercial ones, with a combined area of 20,178 square meters and 278 parking spaces, upon their completion in 2020, the Sept. 5 report added.

The deal takes the fund's total deployed capital to €245 million, representing 70% of the initial €355 million capital raised.