Cordea Savills, fund management arm of U.K. real estate consultancy Savills plc, has rolled out a £150 million London residential fund aimed at Asian investors, Reuters reports. The fund will make investments by forming joint ventures with developers and by committing to buy apartment units before construction to get better prices.
The new fund is eying net returns of 18 percent to 20 percent a year. Closing in January, the fund requires investors to put in a minimum £200,000 each. It will be able to purchase assets in bulk and so obtain better discounts.
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