Aviva Raises £200m For Property Fund
Following their launch 3 months ago, Aviva’s UK Real Estate Recovery Fund has successfully managed to raise over £200 million from their existing commercial property investments.
With 3 properties already completed and a further 2 set to be completed in the next few months, Aviva has accumulated £50 million worth of investments so far and is confident that they will be fully invested by mid 2010.
Discussing their Recovery Fund, Aviva revealed that their property investment strategy currently consists of ‘targeting low-risk assets which can be let to strong covenants on long term leases that are expected to be top performers in their sectors during 2010.’
Looking at these figures and their projected plans for the rest of 2010, it is undeniable that everything appears to be going in their favour… With commercial property prices still more than 30% below their peaks in 2007 – despite recent revivals from institutional investors during the last quarter of 2009 – everything is pointing to the fact that the commercial property market is on the mend.
The only question remaining on economists lips is: will commercial properties continue to rise in value beyond the general election or will they too become static in 5 months time?
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Tags: commercial property, property fund, property investment, property investor, property market, real estate
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