Seeking secure and consistent cash flows in real estate long income

We acquire freeholds and long leaseholds on high-quality European real estate and structure investments to derive maximum value from the contracted income stream. By investing with conviction and discipline, we aim to deliver consistent outcomes and performance, and look to partner with clients to meet their investment goals.

Drawing on our wide resources, we use on-the-ground expertise to enhance operational value over the course of the assets’ life and aim to generate secure income from tenants with high credit quality. We also integrate environmental, social and governance factors in a non-binding way throughout the investment lifecycle, from decision-making to management and reporting.

Why invest?

Real estate long income investments may be attractive to investors with a medium-term time horizon and a decreasing risk tolerance, who are seeking long-dated cash flows.

Long-dated liability matching

Through these long-term assets, investors can benefit from a closer match to their liability and duration needs.

Predictable cash flows

Quality tenants on long leases can deliver strong long-term cash flows.

Inflation hedge

Rents can be linked to the Retail Price Index or Consumer Price Index, or subject to fixed uplifts.

Diversification

The risk profile of long-lease property is different from traditional real estate allowing investors to access varied types of revenue.

Lower risk

Deriving most of the value from underlying leases means less exposure to changing capital values.

Illiquidity premia

Attractive yields relative to comparable asset classes.

Explore real estate long income strategies

Find the latest prices and performance data in our fund centre via the links below. If you have any questions, please contact our distribution team.

European Real Estate Long Income Fund (E-RELI)

This strategy aims to deliver secure and consistent cash flows from predominantly inflation-linked leases with secure contractual lease terms of at least 15 years. The strategy has a focus on the least volatile European markets and investment grade tenant covenants.

Aviva Investors Lime Property Fund

This strategy looks to prioritise secure income to drive attractive risk-adjusted performance and growing distributions to its investors from a well-diversified, high quality property portfolio.

Aviva Investors Lime Property Fund – 20 year anniversary fund update

The Aviva Investors real estate long income team sit down with Heather Brown, Head of UK Institutional, to discuss how the market has evolved over the past 20 years, how responsible investment considerations influence strategy, as well as the outlook for Lime.

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Transcript  for video Lime Property Fund - 20th anniversary

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Key risks of real estate long income

Investment risk

The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.

Return profile

Long-lease assets are expected to be comparatively resilient at stress points, but may lag when traditional real estate markets are booming.

Real estate risk

Where funds are invested in real estate, investors may not be able to redeem any units in the fund when they want because real estate assets may not always be readily saleable. If this is the case, we may defer a request to switch or cash in shares or units.

Valuation risk

Certain assets held in the fund could, by nature, be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile.

Investment insights

Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.

Seizing the moment: The outlook for real estate debt

Gregor Bamert, Sima Kotecha and Nick Solomon discuss the recovery in real estate debt markets in 2024 and the opportunities emerging.

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Private Markets Study 2025

In the seventh edition of the study, we collected the views of 500 institutional investors around the world. We delved into some of the key questions facing private market investors today: Why do they invest in private markets? How do they expect the asset classes to perform over the next few years? What are the biggest barriers to investing today? And how do they incorporate sustainability?

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House View

No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.

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Real estate long income team

Meet our real estate long income investment team.

Contact us

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Private markets

As one of Europe’s largest private markets investment managers, we have the scale to access the full depth and breadth of private markets.

Real estate

Outcome-oriented solutions in real estate, across equity debt and long income, through strategies that span the risk spectrum, from lower-risk options generating long-term income to more opportunistic investments.