The JL Family Office (JLFO) has launched a boutique real estate investment firm, The Land Managers Holdings Pte Ltd (The Land Managers), with an initial capital commitment of S$250m to invest in value-add and developmental real estate opportunities in gateway cities globally across all asset classes.
Founded by Mr Andy Lim, Group CEO of JLFO, The Land Managers will focus on key markets such as Singapore, Greater China and Europe. In August 2020, The Land Managers made its maiden acquisition of a 5,400 sq ft shophouse at 65 Club Street in Singapore for S$15.7m. The acquisition was completed in November 2020. The shophouse will serve as the new headquarters of both The Land Managers and JLFO.
Commenting on the new venture, Mr Lim said, “While the global macroeconomic environment remains challenging, the low cost of capital and unprecedented level of stimulus from governments around the world have been propping asset values across various asset classes. Despite this, we believe there are still pockets of opportunities in key gateway cities in the value-add space with investment ticket sizes of between $$20m to S$50m, which are perfect for The Land Managers.
“Real estate investment has always been in the JLFO DNA and we are well positioned to unlock these opportunities with our track record and wide network.”
For a start, Mr Lim will focus his efforts on Europe and Greater China. “The macro dynamics and political situations in both Europe and Greater China mean there will be opportunities for real estate players who understand value creation to capitalise on. In this regard, we will work with the best in class partners in each of these countries to asset manage with local expertise,” he added.
The new venture will also build upon the family business, which Mr Lim believes can be strengthened through generations. “The Land Managers will form an important part of the family’s real estate ecosystem and I look forward to building a legacy in this area through the venture.”
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