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REAL draw on experience in running fully discretionary investment portfolios totalling £2.5 billion to offer syndicated tax-transparent property ownership suitable for investment by SIPPs, SSASs, company pension schemes, corporate investors, and private investors.  In addition we provide services supporting corporate bond-style lending to property-backed ventures.

Our services are used by specialist property managers seeking a collective investment ‘wrapper’ or bond-financing to raise funding for new ventures.

Real Estate Associates Ltd is regulated by the Financial Conduct Authority with authorisation to establish, operate and wind-up collective investment schemes.

Several of our schemes are classified as 'unregulated collective investment schemes' which cannot be marketed in the UK to members of the public, generally.  Full details are available to persons authorised under the Financial Services and Markets Act ("FSMA") to carry on investment business, and to certain categories of investor to whom unregulated collective investment schemes can be marketed without contravening the FSMA.  Details of current syndication offerings are available by contacting Ian Dowson or Alan Bate for a confidential preliminary discussion.

Information on current bond offerings can be viewed on the Real Bond website.

Guideline valuations for existing investors are available here.

Examples of current schemes

REAL Income Bonds & REAL Capital Bonds


Sector:  Lending
Region:  South Esat

The scheme provides semi-annual returns of up to 7.29% per annum from 2 to 5 years, secured on UK proeprty with maximum 75% loan-to-value ratio.

The Dekra London Bond

Sector:  Residential
Region:  London

This bond issued by Dekra London plc provided finance to develop luxury penthouse apartments in St. John's Wood.  The 5-year arrangement bore an 8% per annum coupon.  The arrangement is now closed.

Real Estate Associates (Northampton) LP

Sector:  Motor
Region:  East Midlands

The fund held a freehold, purpose-built car showroom and workshop on Riverside Business Park, Northampton’s principal motor dealership location containing ten separate modern showrooms and substantial retail warehousing.  The arrangement is now closed.

Real Estate Associates (Theale) LP

Sector:  Office
Region:  South East

The fund holds the freehold of two adjoining offices in Theale, near M4 junction 12 at Reading. 

The Regal Green Homes Bond

Sector:  Residential
Region:  South East

The bond financed a developer of modestly-priced housing in SE England, producing a coupon of 6.75% over its term which has now closed.

The Golf Coast Bond

Sector:  Leisure
Region:  East Lothian, Scotland

Golf Coast plc operate the existing Whitekirk Golf and Leisure Club where development is underway to create an adjoining hotel and related golf facilities.  The bond bears an 8% per annum coupon until 2019. 

Real Estate Associates (Andover) LP

Sector:  Office
Region:  South East

This Fund was oversubscribed after a one-month offering and was established to invest in this freehold office building prominently located close to the centre of Andover, Hampshire.  At Fund maturity the property was sold to the tenant, Be Wiser Insurance, enabling a cash distribution of capital and profits to be made to the investors. 

Real Estate Associates (Leatherhead) LP

Sector:  Retail
Region:  South East

The fund was established in November 2004 to invest in a freehold restaurant/retail investment in central Leatherhead, Surrey. 

UrbanShare Residential Investment Fund LP

Sector:  Residential
Region:  London Docklands

This innovative fund, believed to be the first post A-Day residential investment fund available to SIPPs, has assembled a portfolio of residential properties let on Assured Shorthold Tenancies to young professionals working in Canary Wharf and the City. 

UrbanShare Opportunity Fund LP

Sector:  Residential
Region:  South & East London

The second fund in the UrbanShare series adopts a similar theme to its predecessor offering convenient, competitively-priced rooms for young professionals and students over a wider area of London. 

Paxton Secured Income Fund LP

Sector:  Short-term lending
Region:  South East UK

Launched in April 2011, the fund fulfils the role previously adopted by high-street banks in providing finance for experienced property developers and other borrowers with suitable property security, through loans for a maximum term of 6 months, via a simple and rapid application process managed by the experienced team at Paxton Private Finance LLP.

Campbell Property South West LP

Sector:  Residential
Region:  South West UK

The fund was launched in September 2007 using £30m of equity from three company pension schemes.  Student letting specialists CampbellProperty provide access to the student housing sector for larger investors in Exeter, Portsmouth and Cardiff.

Mission London Residential Investment Fund LP

Sector:  Residential
Region:  London

Since launch in 2009 the fund has exploited its position as a ready buyer to acquire a portfolio of London apartments at prices significantly below the anticipated individual sale prices.  During the life of the fund it has increased revenues through property improvements and effective marketing to tenants.

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Assessing the value of your holding

The table provides guides to calculating the approximate value of your holding.  Please read the important notes below before using the table.  This service covers only a selection of REAL funds.  If your fund is not shown, please contact us for further information.

Scheme Name

Guide Value per £1 holding at par value

Assessment date (see Note 1)

CampbellProperty Student Accommodation Investment Fund (Birmingham) LP £0.175 05 Apr 2016
The Dekra London Bond £0 (Closed) 05 Apr 2016
The Golf Coast Bond £1.000 05 Apr 2017
Mission London Residential Investment Fund LP (Capital) £0.448 05 Jan 2017
Mission London Residential Investment Fund LP (Income) Call for latest valuation  
Mission London Residential Investment Exempt Property Unit Trust (Capital) £0.448 05 Jan 2017
Mission London Residential Investment Exempt Property Unit Trust (Income) Call for latest valuation  
Paxton Secured Income Fund LP £1.000 05 Apr 2017
Paxton Secured Income Fund Exempt Unit Trust £1.000 05 Apr 2017
REAL (CampbellProperty Birmingham) Property Trust £0.175 05 Apr 2016
REAL Capital Bond ISIN GB00BYZ7V443 £1.000 01 Aug 2017
REAL (Northampton) Property Trust £0 (Closed) 05 Apr 2016
REAL (Theale) Property Trust £0.579 31 Mar 2017
REAL (UrbanShare) Property Trust £1.498 05 Apr 2017
REAL (UrbanShare Opportunity) Property Trust £1.799 05 Apr 2017
Real Estate Associates (Andover) LP £0 (Closed) 20 Aug 2014
Real Estate Associates (Leatherhead) LP £0.969 31 Oct 2016
Real Estate Associates (Northampton) LP £0 (Closed) 05 Apr 2016
Real Estate Associates (Theale) LP £0.579 31 Mar 2017
REAL Income Bond ISIN GB00BYZ7V336 £1.000 01 Aug 2017
The Regal Green Homes Bond £0 (Closed) 31 Jan 2016
UK Bridging Finance Fund LP £0 (Closed) 30 Apr 2013
UK Bridging Finance Fund Exempt Unit Trust £0 (Closed) 30 Apr 2013
UrbanShare Residential Investment Fund LP £1.498 05 Apr 2017
UrbanShare Opportunity Fund LP £1.799 05 Apr 2017
 
Examples:

Investor A holds equity participations in Example LP which, at launch, were issued at a par value of £50,000.  The current guide value per £1 is £1.09.  The current guide value of Investor A’s holding is 50,000 x £1.09 =  £54,500.

Investor B holds units in Example Property Trust which, at launch, were issued at a par value of £12,500.  The current guide value per £1 is £1.18.  The current guide value of Investor B’s holding is 12,500 x £1.18 =  £14,750.

Notes:

1)  The frequency of valuation assessments varies according to the nature of the scheme and market conditions.  For example, some schemes require only annual or triennial revaluations of underlying property assets, in which case the guide value may involve elements of market indexation or other adjustments, on a monthly, quarterly or annual basis.

2)  Some schemes administered by REAL do not appear in the list where the scheme is held by a small number of investors, or where revaluation requests are expected infrequently.  Please contact us for information on any schemes not listed above.

3)  The guide valuation reflects a ‘going concern’ basis with a premium or discount to the net asset value of the underlying property holding arising, for example, if a scheme has fixed borrowings at interest rates different from current rates; reflecting expected performance of a scheme for the remainder of the investment term; where evidence of pricing has been created through a recent transfer of holdings; or where an initial offering is underway.

4)  The guide valuations are provided for the convenience of existing investors to assess the approximate value of their holdings.  They are not binding on investors wishing to buy or sell investments and any transaction pricing must be at a price agreed between the parties.  The cost of effecting any such transaction is not reflected in these guide valuations.  Please note that neither the funds nor their administrators are required to redeem investments.

5)  The guide values are supplied by Real Estate Associates (GP) Ltd.  None of Real Estate Associates (GP) Ltd, the funds nor any of the administrators accept responsibility for losses incurred by any party through reliance on these guide values.  Users of this information acknowledge that detailed information is available on request from Real Estate Associates (GP) Ltd to enable them to formulate their own opinion of value.

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