Cordea Savills To Float £250M Fund

Cordea Savills, an international property fund manager, is rolling out a £250 million fund,金融时报》reports. The product will look to finance prime Mayfair, Knightsbridge and Hampstead residential developments.

The move will extend finance to developers and fresh capital for projects that have stalled because of the current economic slump. The fund, which will target an annual internal rate of return of 18 percent to 20 percent, has identified 28 development sites which it may allocate across London.

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