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May 31, 2008

Property Hawks

By Spear's

Stenham, the independent wealth and asset management group, has recently re-entered the UK market via a new property fund after a few years of absence.

Stenham, the independent wealth and asset management group, has recently re-entered the UK market via a new property fund after a few years of absence. The company, which won its second consecutive PAM (Private Asset Management) Award in April for ‘Investment Performance – Absolute Return Portfolios’ and, for three years running, the Hedge Funds Review award for Best Long-Term Achievement in Diversified Fund of Hedge Funds, is invested in over $4 billion of property assets, and has over the past three years been chiefly focused on opportunities in Germany, Switzerland and Japan.

Indeed, at present, Germany accounts for more than half of its portfolio. Founded in 1901, with over 2000 property investors, the group has had a successful track record in acquiring and selling property investments and has delivered a total IRR in excess of 25% per annum over the last twelve years on realised properties. Stenham’s move to re-enter the UK market illustrates the company’s belief in current UK based opportunities.

In April, the Stenham UK3 Property Fund announced its first investment purchase, securing a one third share of a prime London landmark office building located on 1 Victoria Street, Westminster. The property has been let to the First Secretary of State on a no break clause lease until February 2021. Stenham Property’s managing director Paul Arenson says that the purchase represents a significant investment, and that the company has been ‘able to take advantage of property fund redemptions evident in the market place to acquire value’. The fund will be listed on Channel Island Stock Exchange in June 2008.

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