Feldberg Capital Secures £50 Million for ReForm Workplace Reform Fund

Feldberg Capital Secures £50 Million for ReForm Workplace Reform Fund

Feldberg Capital GmbH, an innovative player in the finance sector, announced the successful second close on its impact fund, ReForm. This additional funding of £50 million brings the total raised to an impressive £100 million since the fund’s launch in October 2023.

ReForm is a groundbreaking brown-to-green workplace fund that strategically invests in energy-inefficient ‘brown’ offices. Leveraging Feldberg’s leading ESG framework, the fund aims to retrofit and transform these properties into modern, sustainable green workplaces.

Distinguished as a pioneer in impact investment, ReForm uniquely focuses on both decarbonization and achieving social objectives. The investment strategy includes ambitious ESG targets and innovative features to ensure meaningful positive impacts, such as:

-Linking a portion of the manager’s performance fees to pre-determined ESG targets, aligning investor ambitions with financial returns.
-Setting individual asset-specific Science Based Targets for reducing carbon emissions.
-Establishing local charity partnerships for each ReForm asset, supporting initiatives like renewable energy, charity events, and funding for causes.

Feldberg’s ability to execute this impact strategy is evident in their previous London-focused ventures, including Akoya, a £550 million London neighborhood workplace strategy in partnership with a global sovereign wealth fund, emphasizing sustainability, occupier well-being, and community engagement.

ReForm concentrates on workplace assets in central London’s zone 1 locations, including Soho, Fitzrovia, and Marylebone, known for excellent connectivity and strong growth characteristics. The fund anticipates continued robust occupier demand in these areas due to factors such as the Elizabeth line and London’s enduring role as a European business and financial hub.

In the midst of a significant structural shift in the office sector and a challenging macro-economic climate, ReForm seizes attractive buying opportunities. The fund’s first asset, 8 Bloomsbury Street, acquired just two months after the fund’s launch, signals the beginning of more transactions expected throughout 2024.

Despite recent challenges in the office sector and fundraising market, ReForm’s successful second close indicates strong investor appetite for high-quality ESG-focused London workplace investments. The fund aims for a total equity raise of £300 million, providing a substantial firepower of £500 million, including leverage.

Will Amies, Head of Business Development at Feldberg, remarked, “The successful second close of ReForm underscores our dedication to driving positive change in London’s office sector by decarbonizing buildings while delivering social benefit and positive community impact.”

David Turner, Head of Investment at Feldberg, added, “London is busy and thriving, but employers realize the need to provide high-quality space in prime locations that support employee well-being. ReForm aims to create such workspaces, positively impacting communities and the environment.”

———————–

If you are a proptech company and want to promote your products, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.

Explore more Proptech news at media.proptechbuzz.com, for news tips and promotions, reach out to marketing@proptechbuzz.com