SEB Asset Management has acquired its first property in Austria for its SEB Europe REI real estate special fund from Dutch developer Redevco. No financial details were disclosed.

The property, which is located in Enns and has total rental space of approximately 33,700 m2, is leased to C&A Mode until the end of 2020 and is used as a distribution centre. Enns, a logistics location in the state of Upper Austria, has a well-developed infrastructure. Both the port - the third largest in the Austrian reaches of the Danube - and the A1 motorway can be reached from the property at Fabrikstraße 13 in only a few minutes. C&A supplies its branches in Austria, the Czech Republic and Slovenia from the site.

SEB Europe REI is a German real estate special fund aimed at institutional investors. The fund is positioned in the conservative risk segment. 6.2% was distributed to investors in its first financial year. SEB is a North European financial group serving some 400,000 corporate customers and institutions and five million private individuals. On 30 September 2009, the Group's total assets amounted to SEK 2,233 bn (EUR 219 bn) while its assets under management totalled SEK 1,295bn (EUR 127 bn).