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- September 1, 2012: Vol. 6, Number 8

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Cordea Savills Holds First Close for London Residential Fund

by

Cordea Savills has held a first close of the Prime London Residential Development Fund with £25 million (€31.5 million) of initial equity from a major global private bank. A second close was planned in August with an Asian private bank, and the fund will continue to raise capital during the next 12 months. The fund will provide financing for the development of prime residential assets in London, targeting an internal rate of return of 18–20 percent per year.


 

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