London-based JR Capital, a multifamily office business with a focus on U.K. and European real estate, has established a second £150 million ($183 million) fund with Chancerygate to invest in income-producing, multi-let U.K. urban logistics assets.
The fund raised £40 million ($49 million) of equity in a first close, with capital coming from JR Capital’s Middle East–based private and institutional client base. This gives Chancerygate an initial £80 million ($98 million) to deploy.
Both Chancerygate and JR Capital have co-invested into the new fund, which has a five-year life and will target industrial, warehousing and urban logistics investments across the United Kingdom in lot sizes of £5 million ($6 million) to £15 million ($18 million). The fund seeks to acquire a geographically diverse portfolio of assets across the country.
The partners’ first fund, which totaled £100 million ($123 million), secured 18 assets throughout a two-year period. Richard
