Federico Montero, the former head of European loan sales for Cushman & Wakefield, has joined independent investment banking firm Evercore to lead its European real estate portfolios solutions team.
In his new role, Montero will advise clients in relation to the sale of non-core loan portfolios secured by commercial real estate assets as well as related debt advisory opportunities.
Montero is to take up his new role next week and he will continue to be based in London. Real Estate Capital understands that two former members of Cushman & Wakefield’s corporate finance division will be joining Evercore alongside him.
A likely focus for loan sale mandates will be emerging markets such as Italy as well as the still-busy Spanish market. Montero will also work closely with the investment bank’s financial institutions, restructuring and debt advisory practices in London, along with its teams in Frankfurt and Madrid in relation to European real estate opportunities. The role provides scope to advise on situations including refinancing deals, restructurings, securitisations and M&A deals.
Evercore was established in 1995 and provides investment banking functions to clients including institutional investors and high net worth offices. It has 28 offices located across North America, Europe, South America and Asia.
In his former role, Montero was partner at Cushman & Wakefield Corporate Finance, prior to which he worked in the portfolio solutions group at KPMG. Among the loan sales he has advised on are significant portfolio transactions for Ireland’s National Asset Management Agency, The Netherlands’ Propertize and Spain’s SAREB.
“Federico has been one of the most active and successful advisers in the European real estate loan portfolio market over recent years, and has a strong network of relationships amongst the banks, asset management agencies and financial investors which are active participants in this arena. We believe that this activity is a natural extension for our independent advisory business, as we continue to build out our capabilities across a range of public and private capital advisory services,” said Andrew Sibbald, chief executive of European investment banking at Evercore.
“There is still over €500 billion of non-core real estate exposure across Europe which needs to be worked out over the coming years,” added Montero.