AEP Investment Management / Current Strategies / Basil Property Trust

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AEPim has launched Basil Property Trust (the “Fund”), a Shariah-compliant investment vehicle targeting business space assets in key Asia Pacific regional markets. The target fundraising of US$250 million with its initial close of US$100 million.

The primary objective of the Fund is to invest in business space assets, primarily commercial offices and business parks that are leased on a long-term basis on strong tenant covenants. The Fund aims to provide regular dividends to its investors whilst it pursues active asset management strategies in order to improve its overall performance over time. To achieve the return objective of 15% IRR, the Fund aims to assemble a diversified portfolio underpinned by long, stable income assets and balanced by yield-enhancing  and value-added opportunities in different markets within the Asia Pacific region.

AEP Capital acts as the main sponsor with a 25% equity commitment at the first closing. Other investors at the first close included family office and Shariah institutions from the GCC and Asian region.