AEW Europe - Core
For clients with core investment objectives, AEW Europe offers commingled funds, separately managed accounts and club deals. The core investment strategies seek to provide investors with an attractive total return, with an emphasis on steady generation of income. Core strategies target operating assets that are fully stabilized or close to stabilization in the primary property types (office, logistics, retail, multifamily) in major European metropolitan markets. AEW Europe currently manages a number of core commingled funds.
LOGISTIS was created in 2012 by the merger of AEW Europe's three exiting logistics funds (LOGISTIS I launched in 1999, II and III). The merging of these 3 funds created a €1bn pan-European logistics platform that was reopened for investment and positioned to take advantage of the continued consolidation within the sector. In December 2014, when LOGISTIS held its final close, new commitments had raising the total equity in the Fund to more than €1.3 bn. LOGISTIS’s strategy is to build a portfolio of Grade A logistics parks in prominent locations across the main logistics hubs in Continental Europe. The additional equity raised will be used to grow the LOGISTIS platform to more than €2bn and further expand its European footprint through the acquisition of existing assets and new logistics parks to be developed with its network of preferred development partners. These new investments will be mainly focused on logistics hotspots in Continental Europe targeting Germany, The Netherlands, France, Italy, Spain and selected markets in Central Europe.
Euroffice was launched in 2004 as a close ended pan-European core office fund. The fund raised total equity commitments of €350mn which were invested in 12 assets representing a total investment volume of €720mn. The fund's portfolio comprises Grade A office buildings with a high level of environmental certification located predominantly in core markets in France, Germany and the Netherlands.
Fondis was launched in 2001 with an investment strategy focused on small to medium sized retail assets located in France. During 2011 the fund was extended for a further 10 year life with the existing investors committing additional capital to further grow the fund's portfolio. The fund is targeting additional core and value add retail investments in all the major French markets. The fund currently has an additional €176mn of equity commitments to invest.
Prime Real Estate Fund
Focusing on current high income assets in France, PREF was launched as a core-plus fund in 2004. Total equity was €48mn and the fund operated with a buying power of €119mn, targeting secure assets in logistics, office, and retail on medium-term holding strategy.
Fonciere Ecureuil I & II
Fonciere Ecureuil I & II were established as collective investment vehicles targeted at French institutional investors. The vehicles raised a total of €377mn of equity to invest in core real estate in France and the Eurozone. The funds have invested in a diversified portfolio of office, retail and logistics assets.
The Senior European Loan Fund was launched in 2012 by AEW Europe and Natixis Asset Management to seize the opportunities created by banks’ need to comply with regulation to distribute their real estate loans and create a bond-like cash flow profile on a fully collateralised basis. Having raised €323mn in commitments, the Fund is now fully invested and has acquired 10 investments in secured real estate loans. SELF has issued loans across Europe, generating an attractive risk-adjusted returns to its investors.
The City Retail Fund, launched in 2015, invests in prime high street retail assets in major cities across Europe. The Fund’s primary geographical focus is on key shopping destinations within the core European markets of France, Spain, Italy, UK, Germany and the Nordics, providing a stabilised income return and creating value through a long term investment strategy combining rental growth with active asset management initiatives.
SELF II is the second senior debt fund and was launched in 2016. The Fund invests in senior real estate debt positions, financing core real estate assets across the office, retail, logistics and hotel sectors. SELF II targets investments across Europe, with a particular focus on France, Germany, the UK and Benelux.