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Banking

Four new funds join Aref

The Association of Real Estate Funds, the representative body for unlisted commercial real estate funds, announced on April 2 the continued expansion of its membership with the addition of four new funds.

This takes Aref’s total membership to 64 funds managing over £42 billion. These additions firmly establish Aref as the voice of unlisted commercial real estate funds and adds to its already impressive growth of 21 funds in the past 12 months.

The new members include Ashtenne Industrial Unit Trust, a £679 million JPUT investing in industrial properties throughout Northern England and Scotland. A second joiner is Unite UK Student Accommodation Fund, which is managed by Stephen Grant at Unite Group. Two limited partnerships managed by Palmer Capital Partners have also joined, the £63 million Palmer Capital Development Fund and the £18 million Palmer Active Value Fund I.

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