British Land To Run £300 million Residential Property Fund

The U.K.’s second-largest real estate investment trust, British Land Co. PLC, will manage a £300 million fund of prime London residential properties, increasing its exposure to the sector, according to the Wall Street Journal.

The fund is being launched by a business spun out of law firm Charles Russell.

The company already manages assets for third parties and has some exposure to residential property through their own mixed used buildings.

The move is in line with British Land’s strategy to seek opportunities outside of its core sectors of office and retail real estate.