OSiT to launch London office fund
Office Space in Town (OSiT) has plans to launch a fund, London Serviced Office for Income fund, that will pool OSiT’s serviced office properties together.
The fund will pool the company’s four London freeholds at Waterloo, New Broad St., St. Pauls and Monument.
The fund has a value of £160 million ($208 million) with potential for new investments for the fund to reach £500 million ($650 million).
OSiT will be the cornerstone investor. The fund will target investments from pension funds, family offices and sovereign wealth funds.
The fund aims to give investors strong and steady income returns and good performance. A fund seeded with London properties will offer better income than comparable investments.
The London properties is currently held in two joint ventures. In June this year, OSiT announced that Chinese real estate manager KaiLong replaced Forum Partners’ majority stake in the first venture, whic