Property management firm AEW Global has announced plans to float a new real estate investment trust (REIT) on the London Stock Exchange next month.
AEW UK Investment Management, the British subsidiary of AEW Global, is hoping to raise up to £150m with the initial public offering in June, the proceeds of which are anticipated to be invested within nine months of listing.
The long lease REIT is set to target unexpired leases that are over 18 years in length and have inflation-linked rent reviews. It will be run by the same team behind the £126m AEW UK Reit which launched in 2015.
Steve Smith, chairman of AEW UK Long Lease REIT, said: “The portfolio management team possess the ideal experience and proven track record to fulfil our objective of generating the secure, predictable and sustainable income return that investors are seeking in the current economic environment.”
AEW Global is one of the world’s largest real estate managers, counting €60.1bn (£50.7bn) worth of assets under its management last year.