Fiera Real Estate UK, a subsidiary of global investment manager Fiera Capital Corporation with over $124 bn in AUM, has announced the second close of its Logistics Development Fund taking the total amount of equity committed by investors to over £225 million (€260 million).
Investors in the Fund are a mixture of LGPS and pension funds from the US, Europe and Asia together with proprietary co-investment. The raise brings Fiera’s total value-add track record to over £1 billion in capital commitments across a range of real estate asset classes.
Fiera launched the Fund in July 2022 to take advantage of 'the unprecedented occupier and investor demand for logistics real estate' and can leverage up to 35% taking the portfolio capacity to £350 million across the two-year investment window. The current portfolio of five assets will provide 400,000 sq ft of ESG exemplar, Grade A logistics floorspace across 18 units when construction is complete. The Fund has a pipeline of five more sites under offer and is seeking additional opportunities.
The Fund’s investment requirements are for development sites of over two acres with capability for small-to-mid box logistics developments of up to 250,000 sq ft, in locations well served by transport links and within 45 minutes of a one million catchment population.
80% of assets in the current portfolio are targeting Net Zero Carbon Construction and BREEAM Outstanding.
Source: https://propertyeu.info/Nieuws/Fiera-raises-260m-for-logistics-development-fund-after-2nd-close/7d36787a-156b-44d7-9006-ac21c5a17b08, on 14.09.2023