Fiera Real Estate UK (FREUK), a leading real-estate investment management company which is actively committed to contributing to a low carbon economy through its ESG-focussed investment criteria, has recently launched Fiera Real Estate Logistics Development Fund UK (the Fund) with approximately £170m of equity committed from investors at the first closing.
The Fund shall seek to develop, in a net-zero carbon construction process, up to 300,000 square feet of units which will all be built to a Grade A specification, located in major metropolitan areas and supported by prime transport infrastructure. These units will meet rigorous environmental and social requirements set by FREUK’s Sustainable Design Brief, which align with FREUK’s ambition to drive positive ESG-centric change within the logistics sphere.
Ogier’s Jersey office advised FREUK on all Jersey elements of the launch. This involved the establishment of a Jersey Private Fund and AIF structured as a unit trust scheme which in turn will invest in an English limited partnership, which is the main fund vehicle of the Fund. The Ogier team was led by partner Sophie Reguengo alongside managing associate Alexandra O’Grady, senior associate Stephanie Edge, associate Brooke Lewis and trainee solicitor Hugo Reid.
Lead Partner Sophie Reguengo commented: My team and I are delighted to have played a small part in the launch of Fiera Real Estate UK’s new logistics fund FRELD, which will have a strong focus on ESG. FRELD will take advantage of the unprecedented occupier and investor demand for logistics real estate, with all assets targeting net zero construction.