Cordea Savills enters real estate debt market

Cordea Savills, the international property investment manager will enter the European real estate debt market, with a real estate lending platform.

The company plans to transact new senior and subordinated lending as well as acquiring performing and non-performing loans.

To this end the international property investment market has recruited Keith Davidson and James Tarry from Palatium Investment Management, where Davidson was managing director and Tarry was director, as co-heads of debt investment.

Davidson said: “Cordea Savills has an excellent brand, investor relationships and direct real estate expertise. This creates a powerful platform on which we can leverage our experience and maximise opportunities to raise and deploy capital successfully.”

The team plans to create investment vehicles to provide new investment finance in a risk-averse market, as well as acquiring existing financing arrangements. Justin O’Connor, chief executive officer at Cordea Savills said: “The debt funding gap is likely to continue in the medium term. It was not unexpected that more money was raised for debt funds in Europe in the third quarter of last year than for equity funds.”

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