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Dan Pottorff, the manager’s head of debt investment, says Invesco’s determination to make the Birmingham asset more valuable over time was key to its decision to fund the project.
Dan Pottorff and Ian Laming of Tristan
One of Europe’s best-known real estate managers is launching a debt strategy. Dan Pottorff, left, who has been hired to run it, and company chief executive Ian Laming tell us why.
The fund closed above target and with more than four times as much capital as its predecessor.
Credit
The manager’s head of real estate debt investment research argues several factors are drawing investors to the asset class.
James Jacobs, head of real estate for Lazard’s private capital advisory group, says the easing of restrictions on both sides of the Atlantic is changing institutions’ appetite for risk.
advisory
The UK consultancy appointed former JLL and CAPRA property credit specialist Chris Holmes to spearhead a new branch of its debt advisory business.
Large pools of capital have been raised for distressed strategies, but thanks to government support schemes, finding a home for it is proving a challenge.
Alternative debt providers are increasingly willing to fill the void left by banks in the European sector, but financing mandates remain scarce.
Broadoaks project in Solihull
Market sources say non-bank lenders dominate the financing of such schemes as they look for returns in parts of the market underserved by traditional banks.
Following its acquisition of debt manager DRC Capital, Savills IM’s global chief executive says there is huge potential in credit strategies as banks retrench from real estate.
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