NEWS RELEASE
14 May 2010
ASSET ALLOCATION TO COMMERCIAL REAL ESTATE
HOLDS FIRM DESPITE ROCKY RIDE
Daniel Uzan appointed to head Real Estate Finance team
Commercial Real Estate has undeniably experienced a rocky ride in recent years.
Nevertheless, boutique wealth manager London & Capital - which has been investing in
and managing Real Estate for more than 15 years - holds a firm belief that this asset class
should continue to play an important role in providing clients with a fully diversified
portfolio. Commercial Real Estate can help preserve clients’ wealth, as well as grow it generating a steady income stream – an attractive proposition in a low growth/low
interest rate environment.
However, with the credit market tightening considerably since 2007, the major lenders
in the Commercial Property market have become far less active, lower loan-to-values
and higher margins being the order of the day. According to the FSA (March 2010),
some £160bn of debt secured against UK Commercial Property is scheduled to be
refinanced over the next five years, figures echoed by the latest report to emerge from
DTZ. The report also warns that, as a result of the sharp decline in property values and
more conservative lending practices, not all of this debt will be refinanced. In the face of
this challenge, London & Capital believes advice from experienced Commercial Finance
advisers with strong banking relationships coupled with genuine expertise in real estate
will be more important than ever before. To help both existing borrowers and
purchasers of Commercial Real Estate, it is investing actively in its Real Estate team.
London & Capital announced today that it has appointed Daniel Uzan to head its
Commercial Real Estate Finance team. Uzan joins from Buchler Barnett Finance where
he built considerable experience as a Commercial Property Finance Broker – originating
debt facilities for HNW investors, property companies and wealth managers. Prior to
this Uzan was with ING Bank, working on Middle Eastern and Central Eastern European
syndicated debt. He started his career in Property Finance working at the Tenant
Representation department of Jones Lang LaSalle in Paris.
Having helped a multitude of private and institutional clients source, acquire, manage and
sell properties over the past 15 years, London & Capital provides a compelling
proposition to help its clients take advantage of this environment in line with the capital
preservation mantra the Company strictly adheres to.
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ASSET ALLOCATION TO COMMERCIAL REAL ESTATE HOLDS FIRM
DESPITE ROCKY RIDE../2
Daniel Freedman, London & Capital’s Managing Director is delighted to have Uzan on
board and is looking forward to working with him in developing the Company’s
Commercial Finance platform. “Over the course of the next five years many clients will
require refinancing advice. We expect the major banks to keep tight reins on their
property lending, making strong relationships with lenders around the world critical if
we are to source appropriate and competitive finance for our clients. Daniel has those
relationships in abundance, and his banking experience has allowed him to implement
some highly sophisticated hedging strategies. I believe we have identified someone
capable of showcasing London & Capital’s Real Estate management and finance solutions
on a broad platform, someone who can work with our clients to source the best finance
options available.”
London & Capital currently manages $1.3bn of real estate assets (as at September 2009)
in a portfolio of more than 150 properties, covering a range of sectors and geographical
locations.
Those seeking further information should contact Tony Drain, Partner (Real Estate),
London & Capital on 020 7396 3200.
– ENDS –
For further information and media enquiries, please contact:
Karin Tyche
Phoenix Financial PR
Tel: +44 (0) 20 7947 2858
[email protected]
OR
Gordon Puckey
Phoenix Financial PR
Tel: +44 (0) 20 7947 2856
[email protected]
NOTES TO EDITORS
1. Commercial Finance - London & Capital Real Estate
As part of its comprehensive property management service, London & Capital offers
clients access to the most competitive senior debt, mezzanine and equity finance
options, working to optimise its clients’ capital structures and arrange effective interest
rate hedging tools. The Company offers an end-to-end service, from liaising with
lawyers and valuation agents to putting in place appropriate hedging.
London & Capital has arranged Real Estate finance in excess of £1bn over the past 15
years. The Company has built strong relationships with a range of lenders along the
way, but is affiliated to none. This ensures the Real Estate finance team source the most
attractive terms at all times and offer a clear fee structure - agreed at the outset ensuring no hidden costs and no hidden surprises.
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ASSET ALLOCATION TO COMMERCIAL REAL ESTATE HOLDS FIRM
DESPITE ROCKY RIDE../3
2. About London & Capital
London & Capital was established in 1986. A leading firm of investment advisers and
asset managers, with an international client base, the Company provides private
individuals, family offices, institutional investors, intermediaries and charities from across
the globe with expert advice on offshore and onshore investment strategies. Operating
with a boutique culture, London & Capital places a strong emphasis on capital
preservation and the delivery of a tailored client service.
London & Capital is an independent company, 100% employee-owned with some 80
employees worldwide. Headquartered in London, with further offices in New York and
the Isle of Man, the London & Capital Group advises on more than USD2.7 billion* of
investment assets for high net worth individuals and institutions worldwide. (*as at 30th
September 2009). The Company is regulated by both the FSA and the SEC.
Awards - Corporate: in 2009 London & Capital was awarded ‘Emerging Manager of the
Year – Fund of Funds’ by Opal Financial Group. In the 2008 Financial Times Business
‘Pensions & Investment Provider Awards’, London & Capital was highly commended in
the ‘Asset Allocation’ category. The Company was also ranked in the ‘2008 Top 400
Asset Managers in Europe’ by IPE, and recognised as ‘Firm of the Year for High Net
Worth Investors’ at the ‘2007 Spear’s Wealth Management Awards’.
Awards - Individuals: in the ‘2010 Spear’s HNW Wealth Manager Index’ of leading
practitioners in wealth management, Joint Managing Director, Daniel Freedman was
listed in the ‘Top Recommended’ grouping. Iain Tait, Director of Private Clients, was
recently awarded the '2010 Top 40 under 40' Award by PAM Insight (Private Asset
Manager), and in 2008 named one of the ‘20 Rising Stars of Wealth Management’ by
Institutional Investor’s Private Asset Management.
www.londonandcapital.com