Our approach to real estate investing

We have over five decades’ experience investing in UK and European real estate with a research-led, thematic approach, currently managing £22.3 billion in AUM (as at 30 September 2024). We are direct investors, sourcing and providing access to selected real estate opportunities across equity and debt markets at different points on the risk spectrum, enabling us to offer investment solutions aligned to various client outcomes. We focus on targeted locations and sectors, developing a deep knowledge of local markets, and building strong relationships with key players. We have proven advantages in terms of market access, and in our ability to deploy capital quickly and efficiently.

Moreover, our award-winning product suite and investment capabilities provide our clients with access to responsible investment solutions. Our team’s technical expertise combined with environmental, social and governance (ESG) integration,* allows us to create value for investors in European real estate. 

Direct, thematic investors

Our research-led, thematic approach to investing allows us to be disciplined in originating and executing transactions, in opportunities we believe will deliver the best risk-adjusted returns. Rigorous relative value analysis is an essential part of our portfolio construction process.

Market reputation and reach

Our reputation as a trusted counterparty in the European real estate market means we see a significant volume of “off-market” opportunities. We combine in-house expertise with specialist platforms to create long-term pipeline and scale.

Responsible investment solutions

We have pioneered proprietary tools, such as our Sustainable Transition Loans framework and Sustainable Design Brief, to ensure responsible investment is truly embedded at the heart of our investment process for both debt and equity.*

*ESG integration means the integration of ESG factors and consideration of sustainability risk as part of the investment decision making process. This process is applied beyond any specific binding constraints (in the objective or strategy of the fund as detailed in the prospectus or investment management agreement and in accordance with our Baseline Exclusions Policy). The investment manager retains discretion on decision making taking all risks into account, beyond any binding criteria.

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Real estate strategies

Real estate long income

Long-lease property acquisitions to generate stable, long-term, inflation-linked cash flows to de-risk real estate exposures or match long-dated liabilities. They provide an alternative to or complement fixed-income allocations.

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Real estate debt

We source senior secured and whole loan debt of varying maturities, fixed or floating rate, on commercial property such as offices, retail, or logistics. Clients benefit from regular cashflows and the added security of high-quality collateral.

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Real estate equity

Real-estate acquisition and management across traditional and alternative sectors in Europe that span the risk spectrum, from long-income to cyclical income and growth, development, and opportunistic investment.

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Key risks of real estate strategies

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.

Real estate risk

Investments can be made in real estate, infrastructure and illiquid assets. Investors may not be able to switch or cash in an investment when they want to because real estate may not always be readily saleable. If this is the case we may defer a request to switch or cash in shares or units. Investors should also bear in mind that the valuation of real estate is generally a matter of valuers’ opinion rather than fact.

Investment insights

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

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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 team

Meet our real estate investment team.

  • Gregor Bamert

    Head of Real Estate Debt

  • Renos Booth

    Head of Real Estate Long Income

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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.

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