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Forum Partners invests in US REIT

The London-based group has made its third US investment through a new strategic partnership with a non-traded real estate investment trust.

London-based real estate investment manager Forum Partners is making its third US investment through a new strategic partnership with First Capital Real Estate Investments, the firm announced Monday.

The formation of the partnership involve a three-step process that began with First Capital buying out its former chief executive's interest in its advisory business, First Capital Real Estate Advisors. The second step will call for the design and implementation of a liquidity plan for First Capital Real Estate Trust, First Capital's non-traded real estate investment trust.  In the third step, Forum will help First Capital to develop new products and services to expand its client base and assets under management, according to a statement from the groups. Forum did not disclose the size of its investment in First Capital.

Before the partnership was announced, First Capital recently worked with Forum in distributing securities for one of its portfolio companies, a spokeswoman for Forum told PERE.

“We are looking forward to working with (First Capital chief executive) Suneet Singal and the First Capital team to help grow their platform to scale and are excited about the access First Capital will provide Forum to the retail distribution market,” Russell Platt, Forum's chief executive, said in a statement Monday.

Forum, founded in 2002, invests in Europe, Asia and the US. The firm's first US investment was a strategic partnership announced in June with New York-based multifamily investor Dermot Company, through which Forum invested an undisclosed amount in both Dermot and four of its New York assets, according to a statement at the time. In December, Forum acquired a portfolio of suburban Pennsylvania office properties for $245.3 million in partnership with Workspace Property Trust, according to a press release.