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Frogmore fund holds £377m close

by Andrea Waitrovich

Frogmore Property Co. has held a final close for its Frogmore Real Estate Partners III with £377 million ($592 million) in equity commitments, according to IREI’s FundTracker Database.

The value-added vehicle exceeded its £350 million ($549.6 million) equity fundraising target. It will invest across the United Kingdom in the major property types.

Investors include Public Safety Personnel Retirement System of the State of Arizona and the North Carolina Retirement Systems.

Frogmore Real Estate Partners II closed in 2009 with £200 million ($300 million) in equity, and Frogmore Real Estate Partners closed in 2006 with £330 million ($518.2 million) in equity. Both are fully invested. Assets include major retail properties, business parks, mixed-use developments, apartment complexes and hotels loca

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