Fosun Property and Resolution Property announced a formation of a joint venture company Resolution Property Investment Management LLP (“RPIM”) to act as Fosun’s exclusive investment manager to invest in value-add real estate opportunities across Europe.
This is the second asset management platform Fosun Property has invested in since the Japanese IDERA acquisition in May 2014. The joint-venture RPIM will be majority owned by Fosun Property, with the balance owned by Resolution Property’s partners. Fosun Property is the global real estate investment & management platform of Fosun Group (“Fosun”), a leading investment group from China.
RPIM will provide the platform for Resolution Property’s future real estate investment business, including the launch of Resolution Real Estate Fund V later this year. RPIM will be the first property investment platform in Europe for Fosun Property, which will provide the cornerstone funding for future Resolution Property fund launches. Fund V will also target third-party investors.
RPIM will continue Resolution Property’s well-established strategy of opportunity-driven investment in assets with strong value-add potential, both in the UK and Continental European office and retail markets. With Fosun’s backing, RPIM will be targeting investments in large assets and portfolios. It will also be actively looking to export Resolution Property’s UK model of office development for the creative and digital sector to new European cities.
Source: Fosun Property