Moorfield Real Estate Fund V achieves first close

U.K. specialist real estate fund manager Moorfield Group has secured £270 million ($366 million) of commitments in a first close of its fifth value-add fund, Moorfield Real Estate Fund V (MREFV), from investors based in Europe, Japan and the United States.

With appropriate gearing, the fund will have initial investable capital of £650 million ($881 million).

The fund will employ a value-add risk/return approach, targeting supply/demand imbalances in the residential-for-rent, student accommodation, healthcare, logistics and self-storage sectors. The primary geographic focus will be London and the U.K.’s largest regional cities.

Moorfield will focus on design, sustainability, technology and community engagement to enhance the customer experience and asset value. The fund will be operated in line with Moorfield’s 2030 net-zero carbon commitment.

“Demographic shifts, environmental needs, technological progression and changing customer expectations are