Broadwood Capital has secured a strategic investment from CoreLife Investors. The capital injection has contributed to Broadwood’s balance sheet and fuelled further lending activity, with the loan book standing at c. €47.6m, following a busy summer which saw it advance three loans totalling c. €29.8m.
Graham Stanley, CoreLife Investors’ founding partner, said: “Real estate private credit is the current darling of the sector and is set to stay for the long term. Success in the sector requires highly diligent deal selection, analysis, underwriting, structuring and loan management. As with all businesses, the management team is key, and it is such a privilege for Stuart and I to support Dan and the team at Broadwood Capital. CoreLife Investors looks to back best in class managers who share our values and operate with creativity, innovation and vision. The private credit space offers attractive risk adjusted return, and we are looking forward to supporting Broadwood Capital’s growth into a substantial private credit business over the coming years.”
As part of CoreLife Investors’ investment, Stuart Grant and Graham Stanley will be appointed strategic advisors to Broadwood Capital’s board, as well as becoming members of the credit committee.
Dan Smith, Broadwood Capital CEO, added: “Stuart and Graham are respected leaders with a long and outstanding track record in the property sector. Between them, they bring a wealth of knowledge and experience on all aspects of real estate, credit, capital raising and governance. We are incredibly grateful for both CoreLife Investor's financial investment and the benefit of their experience and time. Their advice to the board and presence on Broadwood’s credit committee reinforces our core values of robust underwriting and strong governance. We have definitely seen an increase in activity over the summer, having closed some £25m (c. €29.8m) of lending. We have a performing loan book and an excellent forward pipeline with around £40m (c. €47.6m) currently in execution. This is a really solid foundation as market activity returns, and we continue to expand our lending strategies and grow Broadwood into a market leading alternative lender.”
Written by Leon Goldwater for Europe Real Estate.
Image source - M7.
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