Osborne Clarke advises on launch of Fiera Real Estate's new £170m logistics development fund

By Nicky Godding

1 July 2022

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Trinity Quay Bristol

Osborne Clarke's Bristol office advised leading investment management company, Fiera Real Estate UK on "FRELD" fund, which has completed its first close with around £170m of equity from investors.

FRELD is targeting a total investor commitment of £300m and is the firm’s first logistics sector-focussed development vehicle which will take advantage of the unprecedented occupier and investor demand for logistics real estate. It will have a maximum five-year duration with a two-year investment window, as well as a strong focus on ESG with all projects targeting net-zero carbon construction.

FRELD will use the expertise of FRE UK’s unique pan-UK operating network of eight property companies, which provide extensive access to local knowledge and deal flow in all key regions. The combination of its operating network and clients’ institutional capital offers FRE UK a significant advantage in sourcing projects and delivering on its ambitious logistics pipeline.

FRELD will develop new units of up to 300,000 sq.ft, all built to a Grade A specification, located in major metropolitan areas and supported by prime transport infrastructure. Chosen sites will typically have one million people within 45-minute drivetime catchments. All assets in the portfolio will meet rigorous environmental and social requirements set by FRE UK’s Sustainable Design Brief, which align with its ambition to drive positive change and contribute to a low carbon economy.

Osborne Clarke's team was led by Partner Tim Simmonds, who was supported by Associate Sebastian Biggam.

Osborne Clarke is a recognised industry leader in real estate providing a comprehensive lifecycle service and advising major real estate industry organisations, ranging from developers and investors to property funds and corporate occupiers.

By Nicky Godding

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.