Fiera Real Estate’s fifth real estate opportunity fund has reached its final close at £180m.
FREOF V focuses on grade-A industrial and logistics, build-to-rent and rezoning of land for residential use. It was launched in November 2019 to take advantage of buying opportunities created by Brexit and the Covid-19 pandemic.
The £180m was raised from both UK and overseas investors, which Fiera said reflected “the resilience of UK real estate as an asset class and increased global investor confidence in the UK market”.
The fund consists of 15 properties, with a pipeline of more than 1,000 build-to-rent units and some 750,000 sq ft of grade-A logistics warehouses located on arterial routes in major UK cities.
FRE UK has around £30m of dry powder left to deploy in this fund. The firm is planning to launch two further strategies in Q2 this year.
The firm’s value-add series has so far raised more than £780m.
Chris Button, fund manager at FRE UK, said: “It has been a very successful investment window, and the fund has a healthy deal pipeline to ensure timely deployment of the remaining equity towards new opportunities during the first half of 2022.”
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