Platform will allow investors ongoing and proprietary access to the firm’s international network of specialized real estate operators developed over the firm’s 15-year investing history.
Global real estate investment management firm Forum Partners (“Forum”) today announced the opening of its Global Investment Vehicle (“GIV”), a thematic, “best ideas” investment program, to outside investors. The co-investment platform will allow investors ongoing and proprietary access to the firm’s international network of specialised real estate operators developed over the firm’s 15-year investing history.
Russell Platt, CEO of Forum explained: “The GIV was established in partnership with our institutional shareholder La Française. The vehicle leverages Forum’s balance sheet to allow us to invest, on a global basis, directly into real estate operating companies for which we have the highest conviction. With the launch of the co-investment platform, we are able to offer institutional capital the opportunity to invest alongside Forum.”
Historically a sponsor of closed-end funds, Forum’s investment strategy of partnering with seasoned real estate companies with scalable business models has not changed. The firm sees the GIV as allowing them to form longer term relationships with management teams due to the absence of constraints such as disposition requirements, investment periods and geographic and sector limits typical of closed-end funds.
On September 28th the GIV entered into an agreement for the acquisition of a majority stake in a portfolio of five retirement villages located across Australia. The portfolio will be acquired from Ingenia Communities Group, a specialist ASX listed senior living owner and operator, who will retain a minority stake in the properties and will continue as manager.
On October 3rd, GIV investment Workspace Property Trust (“WPT), a vertically integrated, full service commercial real estate company specializing in the development, management and operation of suburban office and flex space, acquired its second portfolio. The US$969 million deal included the purchase of 108 office and flex space buildings, in five US markets.
Commenting on the deal, Platt said, “We are pleased with the growth and success of the WPT franchise. Both Workspace Property Trust and Ingenia are prime examples of the high calibre companies we are partnering with since initiating the Global Investment Vehicle.”
