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Feldberg Capital’s ReForm fund, which aims to transform London’s brown office buildings into workplaces with green credentials, has raised a further £50m (€58.4m) in its second close, increasing its total to date. We doubled the amount of funding.
The second close of the ReForm Impact Fund takes Mr Feldberg to a total of £100m secured since the fund was launched in October last year. This latest round brings the fund closer to its £300m target and, with leverage, takes its total investment capacity to £500m.
The manager said that despite the recent headwinds facing the office sector and the broader funding market, ReForm’s second closing is an opportunity for “an ESG-focused, high-quality “This shows strong investor appetite for workplace investment in London.”
The ReForm Fund is a brown-to-green workplace fund that invests in energy-inefficient brown offices with plans to renovate and redeploy these assets into modern green workplaces.
The fund focuses on workplace assets in amenity-rich central London Zone 1 locations with excellent connectivity and strong growth characteristics, such as Soho, Fitzrovia and Marylebone.
As reported last December, Feldberg completed the ReForm fund’s first transaction by purchasing 8 Bloomsbury Street in London.
Will Amies, head of business development at Feldberg, said: “The successful second closing of ReForm is a testament to our partnership with the company in driving positive change in London’s office sector by decarbonizing buildings, while delivering social benefits and positive impact on local communities.” It underlines our dedication.”
“With the support of our leading investors, we are leveraging our expertise in brown-to-green asset management to deliver impactful ESG-driven results at a time when market turmoil is creating once-in-a-generation investment opportunities. We are well placed to offer you the best commercial real estate assets in central London at attractive prices. ”
David Turner, head of investments at Feldberg, said: “London is busy and thriving, which is good for offices, but employers need to pay high prices to bring back employees in the long term and attract the best talent.” We recognize the need to provide quality service.” Place spaces in the best locations to support employee health.
“According to Knight Frank, the number of full-time UK undergraduates in London is set to rise by 16% between now and 2030, as these socially conscious young people enter the world of work. You want to work in a well-equipped, ESG-driven workplace.” Right on your doorstep. This is the kind of workspace ReForm aims to build while having a real positive impact on our community and environment. ”
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