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Case Study

Aviva Investors Central European Property Fund (AICEPF) - Office & Retail

Aviva Investors Central European Property Fund

Challenge

  • To source and acquire investment stock to create a cross border, multi-sector investment portfolio
  • To provide a comprehensive asset management and advisory service to the closed end Fund

Solutions 

  • Provided initial comprehensive financial modelling and formulation of investment strategy
  • Developed a platform for the delivery of local, specialist property and other professional services based on best practice approach
  • Directed and controlled the appointment and output from third party service providers to ensure consistency in terms of quality and performance
  • Set and implemented asset level business plans to align with overall Fund strategy

Results

  • Appraised and acquired in excess of €470 million of assets during the initial asset period
  • Created a successful and effective platform for cross border asset management
  • Defensive strategy set and delivered for management of the assets during the economic downturn
  • Excellent tenant retention – three year propensity to renew in excess of 75 % by ERV
  • Consistent outperformance against IPD CEE Benchmark for recoverable costs, void rate and NOI
  • Recently awarded the IPD European Property Investment Award in the CEE Region for Specialist Funds, with the highest total return relative to IPD sector benchmark annualised over three years
Contact Ian Woodlock

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