London-based FORE has devised an approach that allows family offices to invest together directly in properties through a pool or club.
FORE would act as the catalyst, finding the investment, carrying out due diligence, conducting negotiations, and then managing the asset and developing it into an environmentally sustainable and financially profitable investment for its club members.
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Basil Demeroutis, managing partner of FORE, remarked "Family offices are driving the shift back to core values and discipline in the property market which suffered from investor irresponsibility leading up to the financial crisis."
"Family offices are cutting out the middlemen and creating their own investment ideas, often in partnership with one another. This is to be welcomed, as it signals the return of a back-to-basics approach to investing in commercial property," he added.
Traditionally, there have been only two options for family offices to invest in property; investing through a listed or private property fund or investing directly in property on their own.
The FORE model opens up a third alternative, pooling resources with like-minded families that share a common, long-term vision for what role property investment should serve in preserving and growing their wealth.
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By GlobalDataFORE’s partners include Basil Demeroutis, a family office with over US$4.5 billion in total assets, and Peter Dove, who hae has 30 years of experience in commercial property asset management.
