Ingenious, the London-based investment firm, has announced the hire of Tom Brown as its new head of real estate lending.
Brown spent 27 years at RBS, much of which was spent specialising in the real estate sector supporting developers and investors, latterly as a member of the bank’s Capital Resolution Division.
Ingenious Real Estate, which is looking to grow in the years ahead, provides loans of between £5 million and £20 million, with borrowers able to apply for up to 90 percent of cost for two years.
The firm looks primarily at London and areas within a 90-minute commute, with a typical loan term of 12 to 24 months and a maximum loan to value of 75 percent including finance and costs.
On joining Ingenious, Brown said: “The team is uniquely placed to provide the high quality service and quick turnaround developers and investors have a right to expect from their lender.”
Ingenious Real Estate invests in and arranges finance for real estate projects across a range of strategies through direct acquisitions, joint ventures, co-investment and managed funds.
While specialising in development finance, it also considers requests for bridging finance to assist with asset-backed opportunities seeking planning permission.