First Property sets up £180mln fund to capitalise on Brexit vote slowdown opportunities in commercial property

The firm said the Fprop Offices LP fund – which has a term of seven years - closed its first round of funding on 14 July with equity commitments of £182mln

Recurring revenues underpin record year for First Property

Record profits for property fund manager are clear evidence that focus on sustainable income streams is paying off, chief executive Ben Habib tells Proactive Investors.

First Property notches up record profits

The weakness of sterling against the euro added a layer of extra polish to profits

First Property's Ben Habib 'very pleased' to hang on as league-leading fund manager

Ben Habib, chief executive of First Property Group PLC ( LON:FPO) tells Proactive's Andrew Scott they've retained their position as the best performing fund manager versus MSCI's Central and Eastern European (CEE) Benchmark.

The property fund manager and investor has been in pole position now for eleven years in Morgan Stanley Capital International’s (MSCI) rankings in this category.

First Property keeps its winning streak going in MSCI rankings

The new follows the announcement that First Property's UK Pension Property Portfolio LP was recently awarded best "Small Specialist Fund" by MSCI
Select Year:   All | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009
Investors Chronicle: On the upgrade trail
Simon Thompson writes “…scope for earnings multiple expansion and upgrades…to drive the share price…the risk:reward ratio remains skewed to the upside…given the obvious potential for earnings upgrades, I now rate them a buy at 56p and have a new target price of 65p.”
Evening Standard: I hope Habib is right
Jim Armitage writes “Habib’s bet is based on two related assumptions: that Britain’s economy won’t suffer from leaving the EU; and that the big developers are wrong to be running for the hills.”
IP Real Estate: UK pension schemes invest in First Property fund to capitalise on Brexit
… The asset manager said it had now raised some £250m of equity commitments from third parties since the UK referendum in June last year – partly to take advantage of the slowdown in the UK commercial property market.
Property Week: First Property launches £182m English office fund
First Property Group has established a new seven-year term fund with eight institutional investors to invest in office blocks and business parks across England.
Investors Chronicle: Small cap gems
Simon Thompson once again backs First Property in his list of ‘Small-cap gems’ and advises investors to run profits.
Interactive Investor:10 exciting small-cap shares the analysts have missed
Using Stockopedia tools, Ben Hobson ran a screen for AIM stocks with low broker coverage, above-average earnings growth and below-average industry valuations on a price-to-earnings basis, which identified First Property Group.
Motley Fool: Managing plenty of growth
Ian Pierce notes that “High growth potential and bargain valuation are rarely terms used to describe the same company…but with an increasingly healthy balance sheet, a decent 2.8% dividend yield and fair valuation I’ll definitely be taking a closer look at First Property Group in the coming quarters.”
All Street Research - Business insights from Small Cap Leaders (May 2017)
The report…“takes the lid off 50 of the companies driving the new and old productive economy…It samples and distils the views of 50 dynamic business leaders on economic value.” First Property Group is profiled on page 68.
Shares Magazine - First Property is greedy when others are fearful
“…at 51p the shares look an interesting prospect…”
Investors Chronicle: Primed for an earnings beat
Simon Thompson reiterates his buy recommendation saying 'I feel that my 56p target price is not only achievable, but likely to be surpassed.'
AIM Journal (March edition, p7): First Property investments yield NAV increase
A good precis on the investment case by Andrew Hore, including the prospects for dividend growth.
Investors Chronicle: Engineering reratings
"Simon Thompson reiterates his buy recommendation and comments on further operational progress, pointing out house broker Arden Partners upgrade to forecast earnings. He states his price target of 56p now "looks conservative".

FPAM funds rank No.1 versus MSCI’s Central & Eastern European (CEE) Benchmark for the eleven years from the commencement of its operations in Poland in 2005, and for the annualised periods from 2005 to the end of each of the years from 31 December 2008. In addition, FPAM’s UK Pension Property Portfolio (UK PPP) was awarded best “Small Specialist Fund” by MSCI at its UK Property Investment Awards 2017. FPAM was also one of ten fund managers, out of a pool of 95, to be awarded a Data Quality Award by MSCI.

© 2017 First Property Group plc
32 St James’s Street, London, SW1A 1HD.
Registered in England No. 2967020

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