Rockspring’s UK Value 2 property fund has reached £150 mln (€190 mln) of equity with its third close, half way to its £300 mln (€380 mln) target.

Rockspring’s UK Value 2 property fund has reached £150 mln (€190 mln) of equity with its third close, half way to its £300 mln (€380 mln) target.

Its investments to date have reached £84.5 mln, with two new deals announced on 26 August. The fund has bought the Bramley Shopping Centre in Leeds and the Guildhall office and retail site in Glasgow for a total of £47.5 mln. Its first purchase was the Maskew Retail Park in Peterborough, in July, for around £37 mln.

The fund hopes to reach its £300 mln equity target by year end. It has a total portfolio target of more than £600 mln.

‘We have now closed a deal a month since the launch of UK Value 2,’ said Richard Bains, manager of the UK Value series. ‘All three properties reflect the central ethos of the fund, which is good quality real estate with deliverable upside potential. We are now firmly on track to meet our equity raise target of £300 mln and are actively identifying further properties’.