UK-based real estate fund manager and venture capital backer Palmer Capital will launch its Palmer Real Estate Value Fund II next year.
UK-based real estate fund manager and venture capital backer Palmer Capital will launch its Palmer Real Estate Value Fund II next year.
The UK-focused fund, which will run for five years, has a target return of 15%, Palmer Capital CEO Alex Price told PropertyEU during the Expo Real trade fair in Munich.
Palmer Capital is hoping to raise around £200 mln (€252 mln) in equity. It will build on the success of Fund I, investing in commercial real estate deals in the UK of between £15 mln and £50 mln.
Palmer Capital will invest on an opportunistic basis, acquiring underinvested and under-managed properties with a view to repositioning them via both capital and asset managenment investment. LTVs of up to 50% will be permitted.
