Barings continues expansion of European RE platform

Barings has expanded its real estate debt platform with two appointments as the firm continues to invest in its European operations, according to Real Estate Capital's sister publication, Private Debt Investor.

Barings has expanded its real estate debt platform with two appointments as the firm continues to invest in its European operations, according to Real Estate Capital’s sister publication, Private Debt Investor.

Lars Rogeborg has joined the London office as a director of asset management. His responsibilities include sourcing new debt deals, underwriting and analysis. Rogebord has joined Barings from pbb Deutsche Pfandbriefbank.

Chris Bates
Chris Bates

Arriving alongside Rogeborg is Henry Marlow, who has joined from Ernst & Young as an analyst and will be tasked with underwriting and due diligence on potential lending deals. Both will report to Chris Bates, head of real estate core mortgage Europe at Barings (pictured).

In addition, John Bryant Gerber, vice president of structured real estate investment, will move from the firm’s California headquarters to join the London office.

Charles Weeks, head of real estate Europe, said: “We continue to grow the size and scope of our European real estate investment and asset management platform, with these appointments further underlining the strength of our ambition in Europe.”

News of the appointments comes as Barings has completed a £40 million extension to an existing £80 million UK loan. Empiric Student Property announced that Barings has agreed the extension to the fixed-rate loan, which is now secured by a portfolio of 25 operating assets. The loan is repayable in April 2028 and the extension facility has an all-in fixed rate of 3.64 percent, reflecting a blended 3.37 percent across the whole facility.

Last year, Barings Real Estate Advisers, which is a subsidiary of MassMutual Financial Group, made big strides in expanding its European investment strategy. According to documents published on Companies House, the firm launched a pan-European fund investment strategy as it opened three new offices in Madrid, Paris and Milan.

In total, the firm now operates from eight offices across Europe. Barings acquired investment firm Pamera Asset Management mid-way through 2014 and completed the rebranding of its name from Cornerstone in September.

As the documents explain, the firm is implementing a long-term plan, noting that the gains from such inward investment is expected “to come to fruition over the next couple of years”. This, the firm notes, is resulting in a delay to full profitability until 2017.

“The additional costs associated with the group’s expansion of its European operations have in the short term increased losses as long-term revenue growth is eclipsed by the immediate impact of expanding the footprint of the business,” Scott Brown, director at Barings, wrote in the annual report.

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