London-based Avamore Capital, the short-term property finance specialist, has hired Amit Majithia as a principal.
Majithia started his career at City law firm Taylor Wessing, acting for institutional and corporate clients, before moving to the Baltics as an investment director for a developer specialising in large mixed-use city centre projects.
In both these roles combined, he gained 15 years of legal, property development and investment experience.
“Amit will help us greatly in Avamore’s continued expansion in the short-term development lending and bridging space,” said Michael Dean, an existing principal at Avamore Capital.
Avamore describes itself as a special situations lender, providing loans to property traders, developers, investors and entrepreneurs. It offers senior, mezzanine and bridging loans in the range £500,000 (€646,000; $722,000) to £5 million, or more in conjunction with partners.
The firm says that, while there is a supply shortage in the residential sector and strong growth in the retail and office sectors, traditional sources [of finance] “cannot or will not satisfy the demand for debt finance from small and medium sized developers”. It claims that it therefore provides “essential capital into the market” for these groups.