Cube to invest £100m in UK

A UK property investment firm has secured a commitment from the BP Pension fund to invest in multi-let property.

London-based Cube Real Estate has raised a fund with enough capacity to invest £100 million (€127 million; $176 million) in UK property.

The Cubemaker Partnership will target multi-let commercial property and the principal investor is Ropemaker Properties, the property investment arm of The BP Pension Fund, according to a statement by lawfirm Travers Smith, which advised Cube on establishing the vehicle.

Cube Real Estate is a property investment firm founded in 2002 by Chris Oliver and Stuart Loggie.

Notably, it manages two joint venture companies with Lehman Brothers. One is Picasso Investments which targets multi-let and partially income producing assets that can be improved. The other is an extension of Picasso, Strummer Investments. Picasso was fully invested in 2005.