Standard Life grows its real estate fund with European acquisitions

real estateAsset manager Standard Life Investments’ Global Real Estate Fund has invested €64 million in Europe, with office acquisitions in Jersey and Spain.

The firm has bought Ogier House in Jersey, Building Four in the World Trade Centre and Almeda Park in Barcelona, Spain. The acquisitions are part of an initiative to increase exposure to direct real estate globally.

Ogier House produces a net initial yield of 7.5% while Building Four delivers a net initial yield of 6%.

After these purchases, the fund is now 75% invested in direct real estate around the world with the remainder mostly invested in real estate equities.

“They are both prime properties with attractive income yields in strengthening markets,” says Andrew Jackson, fund manager of the Standard Life Investments Global Real Estate Fund.

“They meet our focus on providing clients with exposure to modern real estate in locations around the world that our research team have forecast to produce attractive returns.”

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