Cordea Savills has made a major new appointment to its London office. Patrick Carr, formerly manager of the ING UK Residential Property Fund, joins Cordea Savills as Director of UK Residential.
Patrick's appointment is the latest development in Cordea Savills' continuing expansion, both in the UK and across Europe. He joins the Residential team which manages the Diversified Residential Opportunities Fund, the Serviced Land No. 1 LP, the Cordea Savills Student Hall Fund and the recently launched Accommodation Investment Fund for Charities.
Patrick worked for ING Real Estate for seven years, spending his last two years managing the Residential Fund. He has been in property since 1995, having started as an assistant surveyor at property consultants Bruton Knowles. He moved from surveying to fund management in 1998, when he joined Johnson Fry as Assistant Fund Manager for a £200 million commercial property fund. After his move to ING Real Estate in 1999, Patrick focused on the residential market, assuming responsibility for managing and growing their existing residential fund which was launched to external investors in 2002. Over the last two years Patrick has been very active in investing in specialist sectors of the residential market in order to maintain target Fund returns.
Patrick Carr commented: "Cordea Savills understands the opportunities within a residential market worth an estimated £3.3 billion and places residential investment on an equal footing with commercial. Cordea Savills is fast becoming a mainstream residential fund manager and I'm delighted to be joining this growing team."
Steve Taylor, Director of Cordea Savills, commented: "Patrick is an experienced and knowledgeable fund manager whose experience in residential property complements our offering perfectly. We are one of only a few fund managers offering residential funds to both institutional and private investors, and we are delighted to have hired one of the best managers in this area."
Source: Cordea Savills