Ailon and Tamar launch Grace Real Estate Partners – a UK investment company with a focus on the residential Private Rented Sector
Grace Real Estate Partners announces its first acquisition
LONDON – Tamar Real Estate, the Family Office real estate arm with presence in Europe, the US and the Middle East, and Ailon Group, the northern European investment manager, announce today the formation of their new investment company Grace Real Estate Partners (“Grace”).
Grace is a private real estate investment group with a focus on the UK residential Private Rented Sector (‘PRS’). Grace specialises in value-add strategies, transforming underutilised assets into dynamic, strong performers with sustainable impact. Grace is backed by an investor base of institutional investors and family offices. With an initial portfolio target of £750 million, the intention of Grace is to acquire portfolios and individual property assets across the UK. Grace invests in residential opportunities with potential for capital appreciation through an ESG-led modernisation programme and proptech property management solutions.
Grace is also pleased to announce its first acquisition, a portfolio of 478 residential units within 25 buildings in Northern England. Located in Newcastle and surrounding counties, the buildings have in aggregate 270,000 sq ft of lettable space.
Jacob Cronstedt, Founding Director at Grace commented: “Grace marks an exciting milestone for Tamar and Ailon as we join forces and expand on our existing residential operations in the UK. We draw on our significant experience in the living sector more broadly across the UK and Northern Europe, having invested in the space over the last 20 years. We have consistently delivered high risk adjusted returns with a top tier track record. Grace’s UK investment strategy is similar to the strategy and residential portfolio that we assembled and sold to Blackstone in 2018”.
Georges Tohme, Founding Director at Grace commented: “the first acquisition is an exciting opportunity given the multiple routes for optimisation the portfolio offers. This acquisition is consistent with Grace’s strategy to unlock value through active management of well-located residential properties in growth regions. Northeast England, being one of our target regions, continues to benefit from strong demographic and economic trends”.
About Grace Real Estate Partners:
Grace Real Estate Partners is a private real estate investment and asset management group specialised in value-add strategies. Grace is a fully integrated platform owning, managing and optimising residential properties in the UK. The core management team has acquired and asset managed more than €11bn of assets with value-add track-record from over 400 properties through a series of platform-specific partnerships, regional funds and separate accounts.
For further information about Grace please see our website:
www.gracere.co.uk
