Tri7, the specialist UK value-add real estate investment and asset management firm, has appointed Ben Beck as partner.
Beck joins from Blue Coast Capital and will launch Tri7’s new office investment business, TriOffice, in which he will assume the role of managing partner.
As a director at Blue Coast Capital, Beck was responsible for UK value-add and opportunistic commercial property investments.
Prior to this, he worked at Columbia Threadneedle where he was responsible for sourcing, analysing and transacting property investments across a number of pooled UK balanced funds and closed ended private equity vehicles.
To date he has been directly responsible for executing in excess of £1 bn (€1.2 bn) of UK real estate transactions.
Beck is joining Tri7 to launch its new dedicated office investment strategy, TriOffice, which will target offices that require repositioning within prime micro-locations in the major UK regional cities and in London.
Tri7 will invest its own capital alongside a number of capital partners – incorporating family offices and private equity – with the new business targeting a £250-£300 mln portfolio of office assets over the next three years.
Alongside its new office investment business, Tri7 continues to actively source opportunities for its bed-led strategies, focusing on PBSA and BTR, and currently has a pipeline of 2,800 student beds worth £800 mln in gross development value.
Said Beck: 'The UK office market is undergoing significant structural change, creating a huge opportunity for those who can identify, acquire, and reposition strategically located office assets in the major UK cities.
'Tri7’s existing expertise in regenerating complex city centre sites, plus its ambitious approach to UK real estate, puts us in a very strong position to make the most of these opportunities to create premium sustainable office assets that cater for modern occupational patterns.'
Samuel Castle, partner at Tri7, added: 'Ben’s extensive experience and track record in UK commercial investments align perfectly with our strategic vision.
'As value-add and opportunistic investors, with a strong track record in unlocking sites through planning, the launch of TriOffice, spearheaded by Ben, offers us another way to take advantage of structural trends in the UK’s real estate markets and create value for our capital partners.'
