Former Brookfield Property Partners COO launches new company
Martin Jepson, the former president and COO of Brookfield Property Partners, and Christopher Cope, the former founding partner of Grafton Advisors, have teamed up to form Ergo Real Estate, a property investor, developer and manager.
Jepson and Cope, who have more than 70 years’ combined experience in the U.K. property sector, will work with partners, focusing on value-added investment and development opportunities in London and the major cities and conurbations of the United Kingdom.
The company's first partnership is with NFU Mutual. Together they have set up Aver Property with €342.6 million ($388.5 million) to invest in value-added and opportunistic acquisitions of commercial property assets. Aver will target investments in the London conurbation, the southeast of England and other major U.K. conurbations.
Aver Property’s first acquisition is 2 Brindleyplace, a 7,200-square-meter (78,000-square-foot) office building on the Brindleyplace estate in Birmingham. The building was acquired from Hansainvest for €33.4 million ($37.9 million).