Fund III
Approaching £1.5 billion has been raised, with equity mostly from US-based investors that have backed Highcross' other two funds, while debt finance is being provided by Royal Bank of Scotland and a syndicate of banks.Peter Gubb, Highcross' managing director says: "This fund is the latest stage in our development of our fund management business. We remain committed to our key markets, where we continue to see strong occupier demand and rental growth.
"As with the acquisition of Bizspace and a residential business last year, we will keep our eyes peeled for other opportunities. We are also prepared to take a venture capital position with dynamic and youthful developers such as our existing partnerships with Graftongate, Cantium, Rotherhill and Danescroft.
"While we are not a vulture fund, given the current market conditions we are in a strong position to take advantage of any distressed or mis-priced assets."
Highcross has consolidated its position as one of the country's leading investors in the regional office and industrial markets. It has opened offices in Birmingham, Manchester and Glasgow and over the past four years has acquired £1.1bn of property through the first two Funds. its development pipeline totals over 1.9 million sq ft in Rugby, Crewe, Tonbridge, Sittingbourne, Kidderminster, Swindon and Portsmouth.
More details about our recent acquisitions and Fund III requirements
