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Forsters' property fund practice is gathering pace after the firm was chosen by the newly created Active Retail for its inaugural acquisition.
Scottish-based Active Retail was set up this year and brought Forsters on board for its £11.5m purchase of the Priory Centre.
Smita Edwards, a commercial property partner at Forsters who is responsible for the burgeoning Active Retail relationship, said it was not required to pitch for the deal. Instead, Active Retail sought the firm out after advising real estate fund Northern Retail Property.
The fund, which is backed by seven large institutional investors including Scottish Widows, is similar to Active Retail in a number of ways, including its Scottish roots, though recently its purchases have fluttered around the £1m mark as opposed to Active Retail's first multimillion pound outing.
Edwards said: "The retail market is very active at the moment and we're hoping [Active Retail] will be an ongoing relationship."
Kuit Steinart Levy's managing partner and commercial property specialist Jonathan Marks advised the vendors on the sale of the Priory Centre, while Christian Hook, a former corporate partner at Dundas & Wilson who joined Morton Fraser in October last year, acted on the original formation of Active Retail.