Fiera Real Estate UK has closed its logistics development fund which, with leverage, has an investment capacity of up to £420m (€507.5m) in gross development value and plans to launch its successor fund.
Fiera Real Estate Logistics Development Fund UK’s (FRELD) investor base includes local government pension schemes and pension funds from the US, Europe and Asia together with proprietary co-investment.
Fiera said FRELD, which was launched in 2022, is 85% deployed, following the acquisition of 10 assets.
The fund is currently pursuing additional opportunities for small to mid-box logistics developments of up to 250,000sqft in major metropolitan areas, the manager added.
Charles Allen, the head of Europe at Fiera Real Estate, said: “We believe our strategy puts us in an excellent position to capture this vintage in UK logistics, which is characterised by strong dislocation from a pricing and supply perspective, as well as surging investor and occupier demand.
“By leveraging our unique operating partner network and in-house planning and development capabilities, we provide investors with access to superior deal flow and de-risked investments from both a construction and sustainability perspective.
“Our strict focus on Grade A development in supply-constrained urban conurbations also offers upside through rental growth prospects and comes at a time when early signs of recovery are emerging in the occupational market.”
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