Real Estate Capital, January 2018
Real Estate Capital, December 2017
Alternative lenders have muscled into traditional banking territory in the real estate sector. But will they stand up to scrutiny when a downturn comes?
DRC STILL FINDS WAYS TO HIT ITS TARGET RETURNS BY “SOLVING PROBLEMS.
…IT’S SPEED OF EXECUTION, THE ASSET CLASS OR DEAL STRUCTURE”
DRC Capital has been given a new senior property debt investment mandate by a European institutional investor.
The fund manager will invest in European senior debt, targeting western Europe. The UK and Germany, where DRC is already active, are both likely to feature in the strategy.
The firm has completed on a first senior debt deal, a source said.
DRC could not confirm media reports that the new mandate was worth as much as €500m.
DRC in UK deal double
Real estate debt fund DRC Capital has financed a West London property and former-IBRC portfolio purchase from its European Real Estate Debt Fund II.
DRC Capital has completed two deals in the UK, for Draco Property and for a joint venture between Oaktree Capital Management and Patrizia Immobilien, Real Estate Capital can reveal.
The real estate debt fund manager, run by managing partner Dale Lattanzio and partners Rob Clayton and Cyrus Korat, is deploying capital from its high-yielding £487m European Real Estate Debt Fund II which reached a final close in May last year and issues whole and mezzanine loans.
European Real Estate Debt Fund II advised by DRC Capital LLP has provided a £24m mezzanine debt facility to support the acquisition of the Citrus portfolio by a joint venture between funds managed by Oaktree Capital Management, L.P. and Patrizia Immobilien AG. The portfolio comprised 24 properties across the UK and was sold by Carisbrooke and Revcap.
The Professional Pensions Investment Awards celebrate excellence among the asset managers who serve UK occupational pension schemes. PPIA has been launched to recognise asset managers over a broad range of specialisms.
The awards process is unique within the industry – with the shortlist drawn up in association with Aon Hewitt, one of the leading investment consultants in the market, highlighting those asset managers who have demonstrated both excellent performance and growth in assets under management.
DRC Capital has made it to the final four in the category of “Real Estate Debt Manager of the Year”.