Europa Capital Partners LLP ('Europa Capital') announces the establishment of Europa Capital Mezzanine Limited ('ECM'). ECM will be backing experienced borrowers who are acquiring property assets in the UK that need active asset management.
The business will be led by Michael Birch. Selina Dicker will be responsible for loan execution and Tim Turnbull, for the real estate underwriting. Mike, Selina and Tim's extensive banking and real estate experience is complemented by Europa's track record.
Two of the Founders of Europa Capital were on the Investment Committee of Property Mezzanine Partners, a mezzanine fund launched in 1995, which successfully invested in and profitably realized 11 mezzanine transactions. Noel Manns, one of the Founders of Europa Capital, will chair the ECM Investment Committee.
Mike Birch said, "The funding gap created by falling values and lower loan to value senior loans provides the right market conditions for mezzanine. Our focus will be on the analysis of the real estate fundamentals, with the financial structure tailored to suit the business plan rather than the reverse."
Tim Turnbull said, "Many assets outside London are now priced at a level that can deliver high, sustainable income returns when run by an experienced asset manager. This will deliver the bulk of the mezzanine return through a paid, rather than a deferred, coupon."
Source: RLM Finsbury