Christ Church, Oxford, St Catherine’s College, Oxford and Robinson College, Cambridge, have established a new circa £30m fund in association with First Property Group to invest in commercial property.
Equity commitments made by the colleges to the fund total £14.5m. First Property has committed £725,000.
Investments by the fund may be leveraged, with a maximum loan amount of 50% of the value of the investments. The fund therefore has a total buying power of just over £30m. First Property will earn annual fees from the new fund calculated by reference to the value of the properties under management.
The fund aims to invest in higher yielding UK commercial property with development potential or other ways in which to enhance value.
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