German, Austrian investors back AEW value-add office strategy

AEW Europe has brought German and Austrian institutional investors into the first close of its latest European real estate fund.

Six investors have committed €101m to the AEW Europe Value Investors Fund, which will focus on core-plus and value-add office investments.

AEW said the fund, which is targeting a total investment capacity of €700m, expects to undertake further closings this year.

The fund will focus on office markets in Germany, France and the UK.

Carsten Czarnetzki, fund manager for Europe Value Investors, said the fund would invest in office assets that can be managed or repositioned into core assets.

“The fund’s strategy is to take advantage of the strong demand for stabilised core assets, targeting the most liquid European markets,” Czarnetzki said.