Property group launches fully subscribed £20m fund
Manchester-based regeneration company Urban Splash has launched a new residential fund – one of the first branded residential portfolios in the UK.
The fund, which sits independent from the Urban Splash group, has seen the firm invite outside investment into its portfolio for the first time; a soft launch has been over-subscribed for the initial £20m of seed funding secured from HNW professional investors across the UK.
The seed portfolio comprises 123 homes and will target an IRR of 15-20% with modest gearing.
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