CBRE Global Investors is merging its CBRE Lionbrook Property and CBRE UK Property Income funds. The merged fund has been re-named the CBRE UK Property Fund.
CBRE Global Investors is merging its CBRE Lionbrook Property and CBRE UK Property Income funds. The merged fund has been re-named the CBRE UK Property Fund.
CBRE Global Investors started negotiations with the investors of Lionbrook and the Income Fund last year to merge the funds.
The fund manager said that the merged fund will have a gross asset value of £530 mln (€642 mln) with its assets retaining a bias towards London and the Southeast. The deal is expected to enhance income levels, asset diversification and add further opportunities for individual active management projects.
The fund will have overweight exposure to the industrial sector, which is in line with the manager’s focus towards income outperformance.
