Feldberg Capital announces first close for brown-to-green workplace fund

Feldberg Capital, via its recently acquired London real estate investment management business formerly known as Brunswick Property Partners, has reached first close on ReForm, a brown-to-green workplace fund. The fund will target amenity-rich central London zone 1 locations with excellent connectivity and strong growth characteristics, such as Soho, Fitzrovia and Marylebone.

The fund has received significant backing from a cornerstone U.K. institutional investor and has a fundraising target of £300 million ($366.2 million), which will provide firepower of around £500 million ($610.4 million) including leverage.

The office sector is undergoing a significant structural shift with a growing division between best-in-class green workplace assets and older, less energy-efficient offices. This, in addition to the current challenging macroeconomic climate, has created an attractive buying opportunity for Feldberg to apply its brown-to-green asset management expertise and del