08.10.2008 - BP deal squares up to property downturn
From IPE: BP’s pension fund real estate arm Ropemaker Properties has formed a £100m UK investment fund called Cubemaker Partnership with London-based property company Cube Real Estate, that aims to take advantage of the economic downturn and acquire cheap assets. The fund is looking to buy cheap, commercial property that offers asset management potential to try and increase their value, but will also target smaller properties in all asset classes that need repositioning or redevelopment. Cubemaker Partnership will begin with an initial £52m of equity, which according director of Cube Real Estate Stuart Loggie, they will “look to build up to £100m in the future.” .... Full Article: Source