Pramerica Awarded UK Ground Lease Mandate
Pramerica Real Estate Investors has been awarded a separate account mandate from a major corporate pension fund to invest £135 million (€157 million) in UK ground lease properties. Pramerica is the European arm of the real estate investment and advisory business of Prudential Financial, which is based in the United States.
“This investment provides further evidence of the growing trend amongst investors to look away from traditional products, such as index-linked gilts and corporate bonds, and look at alternative low-risk investments with the potential for better returns and diversification, such as ground leases,” says Paul Dennis-Jones, director of UK real estate fund management at Pramerica.
The mandate will have a similar strategy to Pramerica’s UK Ground Lease Fund,