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Frogmore Property raises £90 million for third fund

by Andrea Waitrovich

London-based Frogmore Property Co. has raised £90 million ($144 million) for its latest value-added fund, Frogmore Real Estate Fund Partners III. The fund launched in 2012 with a £350 million ($562 million) fundraising goal.

Frogmore Real Estate Fund Partners III invests solely in the United Kingdom. By target equity size, it is one of the largest U.K.-focused closed-end private real estate funds in the market.

Frogmore Real Estate Partners II closed in 2009 with £200.8 million ($324.5 million). The U.K. property fund is focused on income-producing assets such as office, retail and industrial properties. It also will look at residential sites and residential land banks to hold as investments. Frogmore Real Estate Partners II is currently investing its capital. At the start of the year, it formed a partnership with Galliard Homes, C J O’Shea Group and LBS Properties to purchase the second phase of the Baltimore Wharf development in Londo

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