UK-based social infrastructure investment specialist Newcore Capital is launching a new core-plus fund by the end of Q4 2023 with a target raise of £375 million (€430 million). The Newcore Sustainable Income Trust will focus on acquiring fully functional and attractively-priced sustainable real estate assets to create a diversified, income-producing portfolio. Newcore Capital believes that these social infrastructure assets are undervalued and can generate good returns for investors while also having a positive social impact.
A circa £300 million pipeline of potential assets in sectors such as education, waste management, medical research and pathology, storage, clinical healthcare, and transport has been identified, principally in London and the Southeast, as well as in regional centres. The fund will target returns of 9%-11% per annum IRR, with a 5% annual dividend. The fund will be semi-open-ended with structured liquidity flows for primary redemption and new capital raising.
Source: https://propertyeu.info/Nieuws/Newcore-Capital-launches-new-core-plus-fund-targeting-430m/992b1e56-8086-4eab-a87e-cc6f13818d7b, on 26.10.2023