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AEW UK REIT sells AEW UK Core Property Fund holding

By BFN News | 09:51 AM | Friday 12 May, 2017


AEW UK REIT has sold its remaining units in the AEW UK Core Property Fund for total proceeds of £7.62m. The company has held an ownership in the core fund since IPO in May 2015, originally investing £9.75m for the purpose of expediting its investment period. AEW UK REIT said that having disposed of c 21% of the company's holding in February, the remaining units had now been sold at a price in excess of the core fund's latest published NAV, with the resulting equity to be invested directly into UK real estate assets in line with the company's strategy. The company's portfolio manager at AEW UK Investment Management LLP, Alex Short, 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. "We have a healthy pipeline of potential acquisitions and expect to make further announcements very shortly as we invest the proceeds from the core fund sale." At 9:51am: (LON:AEWU) AEW UK REIT Plc share price was -0.63p at 101.38p Story provided by StockMarketWire.com

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