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Valad Property Group (ASX:VPG) has announced that its European business, Valad Europe, has been appointed by Kefren Properties, as investment manager of its $700 million real estate portfolio in Sweden.
The company says the five year Kefren appointment comprises of 150 properties with tenants including Ericson, Volvo and SKF.
The Kefren portfolio brings the value of Valad's property management to around Euro 1.6 billion across the Nordic region.
Valad Europe currently manages 15 pan-European funds which own Euro 5 billion of real estate on behalf of 60 institutional investors.
Valad says it expects to post its 2010 financial year report on 26 August 2010.
Valad Property Group reported a loss of $1.5 billion for the year ending 30 June 2009.
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