Capreon, a third-party private investment and asset management firm focusing on real estate, has raised new capital to focus on investment and credit opportunities in the United Kingdom and leading European cities, CoStar News can reveal.
The company said it will focus on "insight-driven asset selection, active asset management and market dislocations, targeting distressed opportunities of scale" to take advantage of the current market. It comes as more firms located around the world, from Canada to the United States to the United Kingdom, are looking to invest in other countries to find better property pricing opportunities and to diversify their holdings.
Capreon will be led by Raphael Noé as CEO, and, together with Emil Fattal as Managing Director, the duo will lead the firm’s investments.
Hires include Saul Shah, formerly of EY Corporate Finance, and James King from JLL and La Salle Investment Management.
Operating out of a new office in Shaftesbury Capital’s recently completed The Hide, on Kingly Street, Capreon buys and manages assets on behalf of its private, corporate and institutional investors. It manages £1.2 billion of assets across the United Kingdom, the Netherlands and Spain.
As part of the mandate, it completed a debut London office acquisition, CoStar News can reveal. In July, Capreon completed the acquisition of The Technique in Farringdon for around £50 million.
Techspace let the remaining vacancy of circa 40,000 square feet at the building at 132-140 Goswell Road, EC1, in August, for operation as a serviced office.
Capreon was also a named party in the £670 million Balanced Commercial Property Trust public-to-private sale process, and the £350 million British Airways Project Endeavour mixed-use portfolio sale.