Home REIT, the real estate investment trust providing accommodation to homeless people in the UK, has appointed AEW as its new property adviser and investment manager.
The REIT has entered into an agreement with AEW UK Investment Management LLP under which, effective immediately, AEW will act as the company’s property adviser.
AEW will become the investment manager and alternative investment fund manager (AIFM) to the company.
”AEW was selected based on its expertise both in property, including managing residential for rent, and in managing listed funds, as well as its depth of immediately available resource, the strength of its network in the real estate marketplace, and its experience in taking on investment management mandates, amongst other factors,” said the REIT in a press release.
”AEW’s immediate priorities will be to undertake a thorough review of the Company’s assets to help inform a longer-term strategy for the portfolio, as well as dealing with a number of short-term requirements, including preparing for the potential sale of a limited number of properties and engaging with the company’s current tenant base regarding issues with their properties that may have been previously unaddressed, while improving rent collection efficiency.”
AEW is a real estate asset manager and part of the AEW group, which has £74.5 billion of assets under management globally as at 31 December 2022.
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
