Search
 

Ashtenne Launches Industrial Fund

LONDON-Ashtenne Holdings is to launch a specialist industrial fund backed by Morley Fund Management.

By Graham Parker | Updated on June 25, 2001

LONDON-Specialist industrial investor Ashtenne Holdings is to launch a £360 million ($507 million) limited partnership backed by Morley Fund Management.

The fund has been developed to allow institutions to gain exposure to the high yielding UK industrial property, an area where many funds are underweight because of the requirement for active management. To kickstart the venture, Ashtenne will contribute £60 ($85 million) million in return for a 33% stake, and Morley £120 ($170 million) million in return for a 67% partnership share.

The fund will then buy £249 million ($350 million) of industrial properties from Ashtenne; £16 million ($22.5 million) of industrials from Morley and another £16 million ($22.5 million) worth are being bought in the market.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.