DN Capital launches London property fund with GBP100m fundraising target
DN Capital, a real estate investor and operator founded by David Nourani, is collaborating with Alpamint Capital to launch its second London property fund, DN Capital Fund II.
The target is to raise GBP100 million to provide high-quality residential property in London, facilitating the continued acquisition of strategic sites well-placed for development.
DN Capital has already amassed a unique holding of key sites across the capital via its first London property fund and monies raised this time around will also go towards developing this existing portfolio. DN Capital also has a number of commercial premises throughout London and is committing significant capital investment to transforming and expanding these into superior high-quality residential units, ranging from co-living/co-working units to hotels and student accommodation.
DN Capital recently unveiled plans for circa 1,000 residential units across London, in Edgware, Burnt Oak, Finchley, Hampstead, Totteridge & Whetstone, Brixton, Camberwell, Elephant & Castle, Romford and Dagenham, ready for occupation by mid-2025.
Alpamint Capital, an asset manager and investor in projects focused on maintaining and developing strong assets which produce solid ROIs and outperform industry averages, has developed in excess of 50,000 sq ft of residential space since 2011.
David Nourani, founder and CEO of DN Capital, says: ‘Our first fund saw a successful capital raise of circa GBP20 million in March last year, money which was used to acquire strategic sites in London. Our aim is to take this to the next level, building on that success and developing the portfolio.
‘Our experience and presence on the ground leaves us well-placed to realise investors’ ambitions and deliver attractive returns, while also providing the London residential market with quality offerings, supporting local growth and regeneration. Our success to date is based on the ability to acquire strategic landmark sites primed for development and to do so at pace. We have one million square feet of residential development to build out across London, with a GDV upwards of GBP350 million.’
DN Capital has an enviable and proven reputation to acquire sites within as little as 60 seconds. Nourani’s reputation for sourcing and acquiring strategic sites in London is becoming legendary, as few have the vision which is now evident in the portfolio. The partnership with Alpamint Capital, which was set up by Joseph Zekaria, is a clear win for investors, who will benefit from delivery and execution. Zekaria is a veteran portfolio director, who has developed in excess of 100,000 square foot of residential units in conjunction with his in-house team.
Together, Nourani and Zekaria have a clear competitive advantage and are able to grow investor funds.
Joseph Zekaria, managing director of Alpamint Capital, says: ‘We are delighted to work alongside DN Capital once again in launching this new fund, targeted at institutional and private investors. As we proved with the first London fund, our shared strategy and business model offers investors attractive opportunities for long-term, sustainable capital growth in London.’