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UK: Asset management firm Seventy Ninth Group has launched a £500 million real estate bond in order to fund to acquisition and development of leisure and holiday parks across the UK.
The Seventy Ninth Luxury Living Six [L6] has been introduced specifically for professional private and institutional investors, with an aim to revitalise a sector in need of further investment.
With more than 50 years of experience in real estate asset management, Seventy Ninth Group plans to use the bond to purchase UK-based assets [both leisure and holiday parks] that were popular pre- or during the pandemic for a fraction of their previous values. After that, the assets could be redeveloped and sold to holiday and investment markets, while others could be retained in the group’s long-term portfolio.
Jake Webster, managing director of Seventy Ninth Group, said: “The launch of this £500 million bond highlights the ongoing success and expansion of our real estate investment portfolio. With the UK residential buy-to-let market facing uncertainty and record-high interest rates, astute investors are seeking to diversify their real estate holdings.
“We believe LL6 offers an excellent opportunity for our global network of 2,500 partners to achieve strong returns, and we look forward to welcoming more qualified investors in the coming weeks,” he added.
