While everyone else in the real estate industry has been paying lip service to the proposed property investment funds (PIFs), or real estate investment trusts (Reits) as they are otherwise known, Tim Simmonds has been putting money where his mouth is.
Although strictly not a real estate lawyer (Simmonds works in the firm’s company/commercial practice), he has nevertheless played an innovative role in developing this new property investment structure in the UK.
In October, Simmonds assisted property venture capital company Palmer Capital Partners to launch a new type of real estate investment fund that claimed to be the first PIF formed in the UK. This came months before they are introduced officially by the Government.
Palmer Capital has been celebrating about the creative structures Simmonds used for the fund, which enables institutions and private investors to gain exposure to the UK development market for the first time through a pooled vehicle, just like the proposed PIFs would.