Equiton was formed in October 1999 as a 50:50 LimitedPartnership between Brixton and Equitable Life and since then ithas assembled a portfolio of 21 industrial estates totaling 1.5m sfin London and the South East. Brixton now plans to expand the fundand its target market is industrial investments in the £2 million-- £12 million ($2.8 million -- $17 million) price bandpredominantly in the South East.
The deal gives Equitable and the Prudential exposure to aspecialist sector in the only third party fund with a specificSouth East industrial focus. Brixton has renegotiated the basis ofits management fee, and it is also looking to set up similar fundsfor other classes of investor. Insignia Richard Ellis acted forBrixton.
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