Avamore makes new analyst hire

Avamore Capital, the London-based short-term property finance specialist, has hired Italian national Rocco Versace as an analyst.

Versace has been brought in from Anacott Capital Real Estate, the real estate investment and advisory firm, where he focused on the UK and Italian lending markets.

“His international background will be beneficial in Avamore’s continued expansion in the short-term development lending and bridging space,” said Michael Dean, principal at Avamore.

“We are dealing with record loan enquiries and Rocco will undoubtedly add considerable value to our team, our brokers and our borrowers,” Dean added.

Versace said that “despite the referendum outcome, we believe the fundamentals are still strong in the UK property market” as the retreat of traditional lenders creates an opportunity for alternative lenders.

Versace is the second hire by Avamore in the last couple of months. In early June, it recruited Amit Majithia as a principal. Majithia started his career at law firm Taylor Wessing before moving to the Baltics as an investment director for a developer specialising in large mixed-use city centre projects.

A special situations lender, Avamore provides loans to property traders, developers, investors and entrepreneurs ranging from £500,000 to £5 million with larger loans done in conjunction with partners.