Forum Partners has doubled its investment in a UK serviced-office joint venture after securing a cornerstone investor for its new companies fund.
After securing €60m (£47m) from a French institution for its European Realty Income Fund IV, Forum has pumped a £30m equity top-up into its jv with Office Space in Town.
The initial £30m formed part of a £100m venture, London Serviced Offices, to acquire prime London offices for conversion into serviced properties.
Forum is looking to raise up to €350m (£273.9m) of equity for the fourth in its series of funds aimed at private and listed real estate operating companies located throughout Europe.
The investments are predominantly made through buying convertible bonds or preferred equity, or making equity injections into property firms.
Logistics and serviced offices are of particular interest to the new vehicle, which aims to channel around 15% of investment into listed vehicles and the rest into private companies.
Forum’s first investment in Office Space in Town was made through its third vehicle, which closed on €443m of capital commitments from 15 institutional investors across the US and Europe in 2009.
