First Property Launches UK Fund
First Property is launching a new UK commercial real estate fund, Fprop Sterling Income Fund (FSIF), which is expected to have an investment strategy similar to the firm’s UK PPP fund, an ungeared UK commercial property fund.
“Securing sustainable high returns remains difficult in most asset classes. I am therefore delighted that we are able to offer investors a relatively secure higher-yielding solution with the launch of the Fprop Sterling Income Fund,” says Ben Habib, CEO of the First Property Group and CIO of First Property Asset Management. “FSIF will seek to mimic the investment style and returns of the UK PPP fund that we launched in 2010, on our return to the United Kingdom, after having largely exited the UK market at its peak in 2005/2007.”
The UK PPP fund was launched in 2010 on behalf of three pension fund clients of