Fiera Real Estate UK holds $208m first close for first logistics fund
Fiera Real Estate UK, an investment management company wholly owned by Fiera Capital Corp., has completed a first close for its newly launched Fiera Real Estate Logistics Development Fund UK (FRELD), raising £170 million ($208 million) of equity from investors.
Targeting £300 million ($367 million), FRELD is the firm’s first logistics sector-focused development vehicle. According to FRE UK, the fund seeks to take advantage of the record transitional buying opportunities created by Brexit and the COVID-19 pandemic. FRELD will draw on the expertise of FRE UK’s unique pan-U.K. operating network of eight property companies, which provides extensive access to local knowledge and deal flow in all key regions.
It will have a maximum five-year duration with a two-year investment window, as well as a strong focus on ESG with all projects targeting net-zero carbon construction.
FRELD will develop up to 300,000 square feet of new units, all built to grade A specifica