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Commercial Property News
Aegon to launch commercial property fund
Aegon Asset Management is to launch a new commercial property fund after identifying what it believes to be a gap in the market.
The company is setting up the Aegon Active Value Property Fund, which will focus on acquiring real estate valued at between £3 million and £10 million.
It will look at a broad targets across the business property sector, ranging from offices and retail sites to industrial units.
In addition, Aegon will also consider investing in student accommodation and leisure facilities.
The fund will have no gearing and Aegon - which is based in Edinburgh and employs around 4,900 people - has set an initial project yield of 7%.
David Wise, one of the managers of the fund, stated that there is room in the market for the new product "to gain a competitive edge".
He explained that it will be focusing on properties "that are too big for private buyers but too small for most institutional investors".
The company is setting up the Aegon Active Value Property Fund, which will focus on acquiring real estate valued at between £3 million and £10 million.
It will look at a broad targets across the business property sector, ranging from offices and retail sites to industrial units.
In addition, Aegon will also consider investing in student accommodation and leisure facilities.
The fund will have no gearing and Aegon - which is based in Edinburgh and employs around 4,900 people - has set an initial project yield of 7%.
David Wise, one of the managers of the fund, stated that there is room in the market for the new product "to gain a competitive edge".
He explained that it will be focusing on properties "that are too big for private buyers but too small for most institutional investors".
Wed, 3rd Mar 2010