Ares completes £146m South East portfolio acquisition

AEW's assets in the fund include Dorking Business Park

AEW UK Investment has completed the sell-off of the entirety of its South East Office Fund to a fund managed by Ares Management for a value believed to be in the region of £146m.

AEW instructed Tudor Toone to market the fund’s assets in May, which comprise 12 buildings, as revealed by Property Week. Ares has now completed the acquisition to add 482,642 sq ft of South East office assets to its portfolio.

Properties within the portfolio include business parks in Dorking, Maidenhead, Theale and Wokingham as well as central Reading office space on Blagrave Street. More than 60% of the portfolio has recently been refurbished.

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