AEW UK REIT has announced the sale of the remaining units in the in the AEW UK Core Property Fund for total proceeds of £7.6m.
It has held an ownership in the fund since its IPO in May 2015, originally investing £9.8m for the purpose of expediting its investment period.
Having disposed of 21% of its holding in February 2017, the remaining units have now been sold at a price in excess of the core fund’s latest NAV. The resulting equity will be invested into UK real estate.
Alex Short, portfolio manager at AEW UK Investment Management, said, “As previously stated, it has always been our intention to exit from the Core Fund at the right time and the sale now allows us to focus on investment in direct assets which fulfil the company’s investment strategy.”
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