BOSTON--(BUSINESS WIRE)--AEW Real Estate Income Fund (AMEX: RIF) announced that the Fund’s Board of Trustees has approved the liquidation and termination of the Fund. After considering the small asset size of the Fund, the lack of prospects for significant growth in assets and several alternatives to liquidation, the Board concluded that it would be in the best interests of the Fund and its shareholders to liquidate and terminate the Fund.
As of March 8, 2007, the Fund had $93,942,390 in assets attributable to the Fund’s common shares and $28,000,000 attributable to the auction preferred shares for total assets of $121,942,390.
The Fund will begin the orderly liquidation of its assets in accordance with the plan of liquidation approved by the Board. It is expected that the liquidation of the Fund’s assets and the termination of the Fund will be completed within 60 days. The Fund will issue an additional press release to announce the date as of which the transfer agent books of the Fund will be closed and the amount and timing of the liquidating distributions to shareholders.
The AEW Real Estate Income Fund, a non-diversified closed-end investment management company, is advised by AEW Management and Advisors, L.P., an affiliate of AEW Capital Management, L.P. (AEW), which is a subsidiary of IXIS Asset Management US Group, L.P. AEW is a real estate investment manager, providing advisory services to investors worldwide, focusing on directly held real estate assets, real estate equity securities, real estate opportunity funds and international investment. AEW and its affiliates currently manage over $30 billion1 of capital, which is invested in $41.5 billion1 of real estate and securities in North America, Europe and Asia. For further information, visit www.aew.com or www.ixisag.com/aew_rif/.
Tuesday, March 13, 2007
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