Seneca has launched a property investment business headed up by the former head of investment for the £3bn BlackRock UK Property fund.
The managing director of Seneca Property is Jeff Morton, most recently an equity partner at property private equity firm Henley Investments following his time at BlackRock.
The property arm has already made a £20m acquisition with Biz Hub, a portfolio of six branded business centres in the North of England bought from investment firm M20.
Richard Manley, managing partner of Seneca Partners, says: “We are delighted to be able to announce the launch of our property investment business with this £20m acquisition. This is a timely and logical move for Seneca and one that perfectly complements our existing range of investment platforms.
“We have been able to assemble a first class property team and we’re delighted to have somebody of Jeff Morton’s calibre on board to lead the business. Jeff and property investment director Chris Bullough, who have worked together previously, have exciting plans to develop and grow the business and we will be committing significant funds to achieve this.”