Search
 

AEW Closes Fund at Nearly $343M

BOSTON-AEW Capital Management LP closes AEW Value Investors LP, a value-added real estate fund with a total of $342.5 million in equity commitments. The fund, which is expected to be the first in a series, exceeded its target capitalization.

By Naomi Grossman | Updated on October 04, 2004

BOSTON-AEW Capital Management LP closed AEW Value Investors LP, a value-added real estate fund. The fund, which is expected to be the first in a series, exceeded its target capitalization with a total of $342.5 million in equity commitments.

AEW says that the fund’s strategy is to add value through redevelopment, repositioning, re-leasing, recapitalization and completion of single-phase development in order to generate attractive risk-adjusted returns. “We see value-added strategies as a way to unlock intrinsic value in real estate investing,” points out Pamela J. Herbst, head of AEW’s Direct Investments Group. Herbst adds that AEW Value Investors fund offers institutional investors both current income, as well as appreciation potential through improving the operating fundamentals of the fund’s properties.

Plans are for the fund to invest in the four property sectors: industrial, retail, apartment and office, focusing on opportunities in urban multifamily, high-density neighborhood retail, industrial properties in top distribution markets and high-density MSA office. AEW notes that the fund most likely will be underweighted in the office sector in the near term.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.