Bridges holds £220m final close
Bridges Fund Management has held a £220 million ($285.4 million) final close for Bridges Property Alternatives Fund IV, its largest investment vehicle to date.
The fund will continue Bridges’ investment strategy of investing in emerging locations and niche sectors affected by changing demographics and/or consumer needs, such as healthcare, education, SME business space and affordable residential accommodation, and then adding value through environmental refurbishment and operational improvement.
Fund IV has already agreed to four transactions, many of which continue the investment themes identified in Bridges’ previous funds. Transaction in the United Kingdom include a new development of more than 500 units in central Croydon; a mixed-use light industrial and office development in Cannock; a community shopping center in Cumbernauld, near Glasgow; and a new assisted-living venture called Birchgrove, which will provide high-quality rental accommodation for the elder