Business
Appointment of ARA Europe as Investment Adviser
Appointment of ARA Europe as Investment Adviser.
About this update from Regional Reit Ltd.
[{"type":"text","content":"\n\n11 October 2023\nREGIONAL REIT Limited\n(\"Regional REIT\", the \"Group\" or the \"Company\")\nAppointment of ARA Europe as Investment Adviser\n \nRegional REIT (LSE: RGL), the regional office specialist, is pleased to announce that with immediate effect ARA Europe Private Markets Limited (\"ARA Europe\"), has been appointed as the Company's investment adviser, having acquired this role from Toscafund Asset Management LLP*.\n \nARA Europe is part of the ESR Group, Asia-Pacific's largest real asset manager with approximately US$150 billion AUM, and the largest sponsor and manager of REITs in the region with a total AUM of approximately US$45 billion. The development and investment management platform has more than 2,000 people, extending across 28 countries; and thereof, ARA Europe manages over one million sq. m. of predominately office and logistics assets across the UK, Germany, France, Spain and Ireland with a team of over 140 people providing in house acquisition, development, finance and asset management functions.\n \nThe acquisition of the investment adviser role by ARA Europe follows the 13 April 2023 announcement that ARA Europe REIT Manager Ltd. had acquired a majority shareholding in London & Scottish Property Investment Management, the Asset Manager, with Stephen Inglis retaining a significant interest.\n \nThe Board believes the appointment of ARA Europe will enhance the overall strength and capabilities of the both the investment and asset manager to the benefit of the Company's long-term strategy. Both the management agreements are to continue on the existing terms to November 2026.\n \nKevin McGrath, Chairman of Regional REIT commented:\n \n\"The Board welcomes the appointment of ARA Europe and looks forward to working closely with an experienced and well-resourced team, whilst ensuring the services and operational performance received to date are maintained.\"\n \nStephen Inglis, Non-Executive Director of Regional REIT and CEO of London & Scottish Property Investment Management, the Asset Manager, commented:\n\"We are delighted to confirm ARA Europe's appointment today and believe the Company will benefit from such an experienced and well-resourced manager. Whilst the investment management responsibilities are moving to ARA Europe, the day-to-day management of the Co...