AEW UK Fund Receives Seed Capital from Townsend
The Townsend Group, a US-based real estate consultant and adviser, has agreed to provide seed capital for AEW UK’s first fund. The cornerstone investment in the AEW UK Core Property Fund is part of larger client strategy on the part of Townsend to invest in UK real estate on behalf of a large pension fund client.
“Timing is everything in property and this investment could not have come at a better time for a value manager,” says Richard Tanner, managing director with AEW UK. “The market is starting to present interesting investment opportunities. The ability to create a portfolio from a blank sheet of paper, to handpick quality assets and buy them at today’s prices, gives us a clear advantage over existing pooled funds with legacy assets.”
AEW UK Core Property Fund, an open-end core property f