Mortgages For Business
11 Mar 2008
GIC Real Estate has entered into a partnership to raise a £300 million property fund.
The firm has teamed up with Orchard Street Investment Management to raise the Property Development Finance, which it plans to spend on up to 15 different acquisitions over the next three years that will range between £15 million and £50 million in value, Property Week reports.
Orchard Street chairman Chris Bartram explained that the partnership with the Singapore-based investor had particular types of property in minds, stating: "The object is to buy assets with active management potential for improvement."
He added that this was an area of "particular experience and expertise" for the company.
The latest Property Investor''s Handbook, produced by consumer group Which?,has advised that it is still perfectly possible to make money out of property investment in Britain, with a diverse range of opportunities, Choices reports.
http://www.mortgagesforbusiness.co.uk/corporate-information/latest-industry-news/news-article/newsarticleid/29712/gic-in-property-fund-launch---property-development-finance/
