July 3, 2019
Palmer Capital hosted our annual summer party yesterday at Aqua Nueva where the sun was shining and the canapes were flowing. It was a great event to introduce our new partners, Fiera Real Estate, the Canadian asset management firm who recently acquired an 80% shareholding in Palmer Capital. Fiera Real Estate is part of Fiera Capital Corporation’s alterative asset offerings, who have 800 staff within teams in infrastructure, Asian real estate credit, agriculture and private equity.
Within the last year, Palmer Capital have bought c. £250m of property assets, £200m for clients of Palmer Capital and the companies we back, as well as £55m for other investors. We currently have £800m of assets under management which is c. 51% in the value-add space and 49% in core/core plus (as at March 2019).
It’s certainly been a busy and successful first 6 months of the year with c.£500m available for immediate investment within the following parameters:
LONG DATED INCOME: Buying assets with >10 years of income with the ability to add value through management initiatives.
URBAN ASSET CREATION: Acquiring UK urban assets that can be redeveloped into new residential (for sale or rent), PRS or office assets.
PLANNING GAIN: Acquiring primarily brownfield sites in major UK cities, where planning consents can be readily obtained for residential, and then sold.