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Forum Partners Fully Subscribes $12 Million Fund to Provide Capital for U.K. Development

By Mari Nicholson

Forum Partners Fully Subscribes 12 Million Fund to Provide Capital for UK Development

Global real estate investment and asset management firm Forum Partners recently completed fundraising for its latest fund: Newlands Development Opportunities I, LLC. The fund raised $12 million in total commitments, fully meeting the project’s needs.

Forum and its portfolio company, Newlands Property Group Ltd., intend to utilize the proceeds to provide working capital to acquire an entitled industrial development site known as Newlands Park Nottingham Gateway, located within the United Kingdom’s premier Golden Triangle logistics corridor.

“There is strong investor appetite to capitalize on significant secular tailwinds benefitting the logistics industry in the U.K.,” said David Keir, chairman of Newlands Property Group. “Newlands Park Nottingham Gateway is the first of three prime industrial and logistics projects in our landbank that we expect will provide both development and long-term hold investment opportunities.”

Located near Junction 24A of the M1 Motorway, the site ensures unparalleled access to the U.K.’s extensive road network and provides access to 85% of the mainland British population within a four-hour drive. Newlands has secured planning commission approval to develop four buildings totaling 834,000 square feet, with a range of unit sizes.

Newlands is a specialist industrial and logistics developer with a well-known reputation and a history of delivering high-quality, industrial, and logistics developments in supply-constrained markets.

The Newlands team’s expertise centers on identifying strategically located, unimproved land and taking large-scale, often complex developments through the planning, entitlement, and development process to deliver best-in-class industrial and logistics facilities that meet the needs of top-tier logistics, transport, e-commerce, and other high-quality tenants.

As previously reported by The DI Wire, Forum Partners repaid a short-term bridge loan earlier this month that generated a 20% return to investors and equated to a realized 102% internal rate of return, according to the company. The funds utilized the funds for a strategic recapitalization of a phased acquisition of special purpose vehicles that hold interests in logistics development projects located in the Midlands of England.

Since 2002, Forum Partners has deployed approximately $7.7 billion of capital across 24 countries and over 100 investments. Its operating companies and affiliates directly or indirectly own or manage over $14 billion of commercial real estate in the United States and worldwide.

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