Newcore buys £20m of properties for social infrastructure fund
Newcore Capital Management has picked up £20m of educational assets for its £300m value-add, social infrastructure fund.
The acquisitions have increased Newcore Strategic Situations V LP’s investments to £43m.
The properties, located in Greater London and the South East, included five early years education properties leased to operating partners: Family First in Guildford, Marlow and Finchampstead, Banana Moon in Tunbridge Wells and Fennies in Gerrards Cross.
Newcore Capital Management has picked up £20m of educational assets for its £300m value-add, social infrastructure fund.
The acquisitions have increased Newcore Strategic Situations V LP’s investments to £43m.
The properties, located in Greater London and the South East, included five early years education properties leased to operating partners: Family First in Guildford, Marlow and Finchampstead, Banana Moon in Tunbridge Wells and Fennies in Gerrards Cross.
The fund also purchased two special educational needs schools: a primary school leased to Outcomes First Group in Guildford (pictured) and a school leased to an undisclosed tenant in Walton-on-Thames.
Newcore said it remained active in the market for educational properties as well as other social infrastructure assets, including healthcare, veterinary, waste, energy and open storage.
Harry Savory, chief investment officer of Newcore, said: “These seven investments provide good opportunities for our value-add strategy and for extending relationships with excellent operators of educational businesses. We are actively in the market to invest in further assets in the social infrastructure sector.”
At soft first close of the fund in March, Newcore obtained an initial £60m of investment firepower.
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Image © Newcore Capital Management/Tavistock
