Pramerica Raises £492M For Property Fund

Pramerica Real Estate Investors has secured £492 million for its mezzanine debt fund, Reuters reports. The Pramerica Real Estate Capital 1 Fund will provide mezzanine debt of about £5-75 million for acquisitions and refinancing.

Pramerica secured the investment from global investment institutions, such as pension funds and sovereign wealth funds from North America, Europe, the U.K. and the Middle East, adds PropertyEU. The fund will provide debt to institutional clients in the U.K. and Germany.

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