NON-CORE FUNDS
Since 1999, we’ve sponsored a series of six pan-European value add funds that have either sought to transform properties into modern, future-proofed institutional grade investments, and/or have taken advantage of mispriced risk at key points across real estate cycles.
WHAT SETS OUR NON-CORE FUNDS APART?
For our non-core funds, the risks that we can take are less constrained. Depending upon how different risk factors are priced at any point in the real estate cycle, we carefully select strategies that should deliver higher returns for our clients.
Real estate markets are more volatile than they should be, due to a mix of human behaviour and institutional influences. By identifying where prices should be, and the narratives and constraints causing them to diverge, we can begin to identify mispriced risk to reveal attractive investment opportunities for our clients; opportunities that more orthodox approaches may miss.
HOW WE DELIVER RETURNS IN PRACTICE
We aim to generate returns in the following ways:
- Enhancing net cashflows, for example by increasing rents, improving occupancy, decreasing costs, increasing efficiency, leasing vacant space, extending lease terms or adding new space;
- Reducing obsolescence by changing physical, functional or social aspects of buildings;
- Delivering new space into undersupplied markets, where pricing is favourable, and unlocking value through portfolio break-ups, sale-and-leasebacks or releasing assets from complex capital structures.
2019
DATE LAUNCHED
15NUMBER OF
INVESTMENTS
8COUNTRIES
€596 MEQUITY RAISED
2016
DATE LAUNCHED
16NUMBER OF
INVESTMENTS10COUNTRIES€716 MEQUITY RAISED
2012
DATE LAUNCHED
18NUMBER OF
INVESTMENTS9COUNTRIES€604 MEQUITY RAISED
2007
DATE LAUNCHED
16NUMBER OF
INVESTMENTS7COUNTRIES€731 MEQUITY RAISED
2004
DATE LAUNCHED
23NUMBER OF
INVESTMENTS11COUNTRIES€450 MEQUITY RAISED
1999
DATE LAUNCHED
14NUMBER OF
INVESTMENTS6COUNTRIES€225 MEQUITY RAISED
NON-CORE CLIENT ASSETS
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