Long Harbour has launched the Long Harbour Euro Secured Income 1 Fund (LHESIF 1), its first dedicated European ground lease fund.
LHESIF 1 will be managed by Richard Silva, executive director at Long Harbour.
Long Harbour has €30 million ($33 million) to deploy through the new fund, and received commitments of another €370 million ($408 million) from investors, bringing the total available capital to €400 million ($441 million).
The vehicle will target ground leases on residential and commercial real estate assets in strong European markets, including Germany and Ireland, and across all asset classes.
“We will provide residential landowners with a new source of finance by investing in their ground leases, unlocking the value of their land,” said Silva. “This approach will allow landlords to concentrate on their buildings and occupiers.”
He added, “We know that the ground lease model works well in the U.K. and U.S., and we believe th
