The move follows the departure of David Blight earlier this year, and was the result of consulting with a number of the company’s key shareholders and other stakeholders, APN stated.
Mr Aylward is a significant shareholder in the company, has been a director since 1996 and is a highly experienced real estate professional, the group said. No change to Mr Aylward’s remuneration is proposed.
“APN is in excellent shape, with an experienced and focused team and a clear direction,” Mr Aylward said.
“The firm is well positioned to continue with its existing strategy and is focused on businesses in which we have a competitive advantage: real estate securities, healthcare and private funds.
“I believe I am exceptionally well supported in the leadership of APN’s business, which has been demonstrated by a particularly smooth transition to our new management structure, as well as a number of recent successes within our business.
“I am very enthusiastic about the prospects for APN and I intend to continue to deliver on our objective of providing outstanding investment performance and service to our investors.”
The group also announced it has successfully completed the purchase of 541 St Kilda Road for its new direct property fund, the APN 541 St Kilda Road Fund. Units in the fund were allotted on May 7, with the first monthly distribution to be paid around 10 June 2013.
