The former head of Marathon Asset Management’s US and European property businesses is now leading Starz Real Estate, which lends to those underserved by Europe’s banks. He tells Rhiannon Curry where he sees opportunities.
According to the co-working company’s EMEA real estate head, its rescue by SoftBank allows for “very sustainable growth”. But property debt providers will need to decide if they still have faith in the business model.
Plenty of Europe’s real estate debt providers have lent against buildings occupied by the co-working operator. Real Estate Capital examines whether the company’s $9.5bn rescue by SoftBank will alleviate concerns caused by its recent troubles.
At the recent CREFC conference, Patrick Nelson discussed the office space company's business model following its refinancing, its use of SPVs in leasing deals, and its relationships with landlords and lenders.