Trinova Real Estate is fundraising for its maiden discretionary real estate fund.
Targeting refurbished office buildings across the UK’s main cities, Trinova anticipates the fund having in excess of £200m of assets when fully invested.
The fund is targeting a value-add style return in excess of 13%. It has reached its first close and is working towards a final close later this year.
Trinova will also continue to manage its various separate account mandates, which do not conflict with its new fund.
Most recently Trinova completed the acquisition of Glasgow’s Spectrum Building on behalf of Central and Eastern European developer and investor Futureal Group for £14.65m and last year with Chile-headquartered investor Stars REI bought 33 Kingsway, WC2, for £62m.
The firm also expanded into the US in 2019 with its purchase of the 154,000 sq ft 400 Commerce Drive in Newark, Delaware, with US-based Kairos Real Estate Partners.
This week, Trinova hired Rosie Oulton from CBRE for its asset management team and George Thomas from Qatari Diar as group management accountant.
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