JLL Appointed as Managing Agents for £300m Special Situations Fund

Orchard Street Investment Management LLP, a leading UK specialist commercial property investment manager, has appointed Jones Lang LaSalle as managing agents for its new £300m UK Special Situations Fund.

The Fund was launched by Orchard Street Investment Management and an affiliate of GIC Real Estate in March 2008 to invest in commercial property throughout the UK, and is currently in the market looking for the most attractive investments. The Fund will include gearing up to two thirds of the total value, and will seek individual assets of between £15m and £50m.

Chris Bartram, Chairman of Orchard Street, Said:

“The response to our UK Special Situations Fund has been very good and we are currently evaluating a number of promising investment opportunities. We are looking for active management and creative propositions, and the market is presenting more and more attractive deals. We are pleased to appoint Jones Lang LaSalle and look forward to working with them as we continue to grow the Fund.”

Matthew Doyle, Director of Property Management at Jones Lang LaSalle, further commented:

“This is an exciting new fund and we look forward to helping Orchard Street with a value added approach to its future management”