AEW Europe has acquired Arbuthnot Real Estate Investment Management (ArbreIM) from Arbuthnot Banking Group to form a U.K. focused property funds business, Reuters reports. AEW U.K. will be equally owned by AEW Europe and the existing management team of ArbreIM. The former managing director and head of investment strategy for the U.K. real estate business at ArbreIM, Richard Tanner, will head AEW U.K. The new partnership is planning to launch an open-ended core U.K. property fund under the AEW U.K. brand in early 2011. Frome Partnership was appointed to advice ArbreIM, adds Property Week.
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