AEW Capital Management Announces Completion of Land Acquisition for ANOVA The Pearl, a Mixed-Use Residential Tower in Charlotte's Innovation District

BOSTON, MA (July 31, 2026) - AEW Capital Management, L.P. (AEW) today announced the completion of a land acquisition for the development of ANOVA The Pearl, a 20-story, 382-unit luxury residential mixed-use tower located within The Pearl Innovation District in Charlotte, North Carolina. The development is being undertaken alongside GMH Communities and Wexford Science & Technology and is anticipated to open for occupancy in Summer 2028.

Situated at the intersection of South McDowell Street and Pearl Park Way, ANOVA The Pearl will be in the heart of Charlotte's innovation district, anchored by Wake Forest University School of Medicine, Atrium Health and a growing ecosystem of research, education and technology organizations.

The development is expected to include 382 residential units and 6,621 square feet of ground-floor retail space. In addition, 5% of the residential units will be reserved for affordable housing. Residents will have access to a comprehensive amenity package, including a fitness center, clubhouse, golf simulator, sauna and cryotherapy chambers.

"We are attracted to locations that we believe benefit from strong institutional anchors and create opportunities for residents to live near major centers of employment and innovation," said Sara Cassidy, Portfolio Manager at AEW Capital Management. "ANOVA The Pearl reflects these characteristics and represents a residential development within a unique and evolving district in Charlotte."

The Pearl has emerged as a collaborative district bringing together healthcare, research, education and technology organizations. ANOVA The Pearl will introduce a residential component that provides housing options within walking distance of many of the district's major employers and institutions.

About AEW

For 45 years, AEW Capital Management, L.P. (AEW) has provided real estate investment management services to investors worldwide. As one of the world's largest real estate investment advisors¹, AEW and its affiliates manage $85.5 billion in private real estate equity, debt and listed securities across North America, Europe and Asia (as of March 31, 2026). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, Denver, London, Paris, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities.

¹Source: "2025 IREI.Q Real Estate Managers Guide". The Guide, published annually by Institutional Real Estate, Inc., ranks real estate managers based on the gross value of real estate AUM ($m) as of December 31, 2024. As of March 31, 2026. AEW includes (i) AEW Capital Management, L.P. and its subsidiaries and (ii) affiliated company AEW Europe and its subsidiaries. AEW Europe and AEW Capital Management, L.P. are commonly owned by Natixis Investment Managers and operate independently from each other. Total AEW AUM of $85.5 billion includes $41.2 billion in assets managed by AEW Europe and its affiliates, $2.8 billion in regulatory assets under management of AEW Capital Management, L.P., and $41.5 billion in assets for which AEW Capital Management, L.P. and its affiliates provide (i) investment management services to a fund or other vehicle that is not primarily investing in securities (e.g., real estate), (ii) non-discretionary investment advisory services (e.g., model portfolios) or (iii) fund management services that do not include providing investment advice.