F&C REIT Asset Management, the property asset management group created in September 2008 from the combination of F&C Asset Management's property business and REIT Asset Management, said its property portfolios turned in a strong performance in 2009, the company's first full year of operation.
F&C REIT Asset Management, the property asset management group created in September 2008 from the combination of F&C Asset Management's property business and REIT Asset Management, said its property portfolios turned in a strong performance in 2009, the company's first full year of operation.
During its annual results presentation, F&C Asset Management revealed that the aggregate of all F&C REIT property portfolios monitored by Investment Property Databank (IPD) outperformed the IPD index return figure of 2.8% by 9.1% in 2009, returning 12.8%.
The property performance of all three closed-ended listed UK commercial property vehicles managed by F&C REIT - ISIS Property Trust, IRP Property Investments and F&C Commercial Property Trust - comfortably outperformed the IPD benchmark in 2009 by 7%, 9.5% and 6.4 % respectively.
Since its creation, F&C REIT has completed transactions worth over £1 bn (EUR 1.1 bn). In 2009, the firm secured one of the largest property deals of the year when it acquired the Dawnay Day portfolio consisting of 211 properties for £635 mln.
