F&C REIT is seeking to raise £300 mln (EUR 336 mln) in commitments from institutional and high net worth investors for a proposed UK real estate opportunity fund. The Devonshire UK Opportunities Fund will invest primarily in UK commercial real estate assets that are available via distressed situations and benefit from significant price discounts, with strong underlying real estate fundamentals and where the potential may exist to add further value through active asset management. The fund will be closed-ended and structured as a limited partnership.
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