AEW UK is looking to raise about £250m for a new fund which will target retail property at depressed prices.
The Urban Real Estate Fund will seek equity from institutional investors looking to acquire assets in urban locations in the South and other major UK cities
The firm is understood to see an opportunity to achieve high returns by repositioning retail assets to higher value alternative uses.
UREF follows on from AEW UK’s South East Office Fund, launched in 2014, which focused on undervalued office investment opportunities. The property portfolio was sold in October 2018 to Ares for £146m in October.
AEW UK declined to comment.
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