Seneca launches property business with £20m acquisition

Seeking joint venture partners

Seneca Partners has launched its own real estate business called Seneca Property after seeing 'strong appetite' for a personal approach to real estate investing from clients.

Seneca, which has £500m in assets under management, has acquired six branded business centres worth £20m to form part of the portfolio. The portfolio provides 170,000 sq ft of office accommodation and a further 50,000 sq ft of light industrial accommodation, let to over 200 tenants. It has also hired Jeff Morton as managing director of Seneca Property. Morton was formerly an equity partner at property private equity firm Henley Investments.  Where now for UK commercial property a year after the Brexit vote? Prior to this, he was a managing director at BlackRock and head of inves...