Resolution and Peakside scoop follow-on capital

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.