AEW postpones €900m European portfolio sale due to coronavirus

Real estate investment manager AEW has reportedly postponed plans to market a €900 mln office portfolio on concerns about coronavirus.

According to a news report by Bloomberg, Natixis-Backed AEW had already appointed Savills to market the office properties in its Europe Value Investors Fund. The assets were expected to be launched onto the market last week at Mipim, before the trade fair was pushed back to June. The fund manager is now trying to assess the impact of the outbreak on real estate markets before moving ahead, according to the article.

The properties are located in countries including France, Germany, the Netherlands and Spain.

EVI is a valued-add fund focusing on European manage-to-core office assets. Launched in 2014, the vehicle targets a net IRR of 9-11% with a maximum LTV of 50%. It has invested in 18 assets across the UK, France, Spain, Germany and the Netherlands.


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