F&C Reit is launching the Devonshire UK Opportunities fund, its first new vehicle since forming last year.
The product will seek to invest in UK commercial real estate assets, focusing on value through distressed prices. F&C Reit is targeting £300m for the launch and aims to offer 20% returns over seven years. It will be managed by Reit Asset Management founder Leo Noe. The company was established from the merger of Reit Asset Management and F&C Property. Noe says: "The launch of the fund clearly shows the strong position that F&C Reit is in to take advantage of the current state of the property market; in being able to identify and target opportunities across a variety of sectors that have ...
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