AEW finds Asian interest and first deals for UK Core fund

Two Asian investors are lining up to go into AEW UK’s Core Property Fund.

The investors are going through the due diligence process, said Richard Tanner, AEW UK’s managing director.

The value-investing-style fund took in its first money last October, from a corporate pension fund client of The Townsend Group.

Asset management director Rachel McIsaac said the fund had spent around £15m on its first investments and had another “three or four” assets worth £15m-£20m under offer.

The fund targets high – yielding properties and all its initial deals have been with LPA receivers, or consensual sales with banks, she said.

“The spread of pricing for property is the biggest I’ve ever seen, especially outside London and in retail,” Tanner added.

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