FINANCE: Whitewood Group is to raise up to £125m for a new real estate fund.
The Whitewood REFF will be floated on the London Stock Exchange and will raise its initial capital through the issue of 125m ordinary shares priced at £1 each.
The group intends to invest most of its funds in the Benelux region with a focus on the office market.
The fund is targeting long-term total returns of between 10 and 15% with an annualised dividend yield of 5.75%. It is already in negotiations to deliver a £178m pipeline of assets.
