FINANCE Moorfield Group has raised £500m through a third fund to invest in UK property over the next three years.
The Moorfield Real Estate Fund III closed with £250m of discretionary equity capital and £100m of co-investment equity capital committed.
The fund, which is focused on opportunistic and value-add assets, has bought its first property, the £22m Aurora House in Ealing, west London, in a joint venture with XLB Property.
The 52,000 sq ft office block is let to retail research firm Dunnhumby, which owner Tesco this week announced it was exploring “strategic options” for. The property was bought from Threadneedle Investments in an off-market transaction. JLL advised.
samantha.mcclary@estatesgazette.com
