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FairBriar Forms Serviced Apartment Venture

LONDON-Residential Developer and Investor FairBriar has formed a joint venture with Singapore-based Centrepoint Properties to invest in the growing market for serviced apartments in London.

By Graham Parker | Updated on October 03, 2001

LONDON-Residential developer and investor FairBriar has signed an agreement with Singapore-based Centrepoint Properties to create a new fund specialising in serviced apartments. Centrepoint will invest £6.64 million ($9.8 million) in the FairBriar Residential Investment Partnership.

At the same time FairBriar has formed a 50/50 joint venture with Fraser Serviced Residences, a wholly-owned subsidiary of Centrepoint, to manage serviced apartments in the UK. Properties in the existing Fairbriar Residences portfolio of serviced apartments will be individually re-branded as either Fraser Suites Serviced Residences or Fraser Place Serviced Residences.

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