Value-added investment firms Resolution Property and Peakside Capital have both made progress raising capital for follow-on funds.
Peakside held a first closing for Peakside Real Estate Fund 2 in January, after fully investing the €261m of equity committed to PREF 1.
Resolution Property hopes to reach a first closing for its fourth pan-European fund next month. Hodes Weill is the firm’s placement agent.
Peakside’s investment focus will continue to be Germany and central Europe. Chairman Roger Barris said PREF 1 has sold properties “through the darkest days” after picking up portfolios from German insurers soon after its launch.
It is tipped to be selling its sole UK asset, a 42,000 sq ft office redevelopment at 80 Hammersmith Road, west London, after letting it ahead of expectations.
Resolution’s Peter Todd said this month’s acquisition of a residential and retail block in Copenhagen would be the last acquisition for Fund 3.
The fund owns a portfolio of 650 apartments in the city and has a rolling refurbishment programme.