Pramerica Ground Lease Fund Raises £98.3 Million
Pramerica Real Estate Investors, the European arm of the real estate investment and advisory business of US-based Prudential Financial, has raised an additional £98.3 million (€112 million) in new subscriptions to the Pramerica UK Ground Lease Fund. With the new subscriptions, the core open-end fund has £225 million (€257 million) in commitments.
“The demand for the long-term, secure income offered by this type of product and underpinned by the fund’s strict investment criteria has been clearly shown by the £98.3 million that we have attracted to the fund in the last nine months,” says Paul Dennis-Jones, Pramerica’s director of UK real estate fund management.
The fund invests in ground leases in the United Kingdom. Recently, the fund made three investments for a to