commercial property

Europa Capital launches £100m UK debt vehicle



Europa Capital LLP has announced the launch of its £100m UK debt vehicle, which will provide both whole loans and mezzanine financing secured against commercial property.

Loans will be offered at up to 85% LTV with a focus on regional markets.

The real estate fund manager is looking to grow its debt platform following the success of its Europa Mezzanine Fund, which closed in December 2016. 

Europa Capital has also announced the appointments of David Hardcastle and Chris Swarbrick as origination consultants.

David, who is based in Leeds, and Chris, based in Manchester, both joined the company from Barclays, where they were responsible for real estate lending in the North of England.

Tim Turnbull, partner at Europa Capital, said: “Europa Capital has built a successful debt platform by providing suitable and flexible debt solutions to these undersupplied markets and will now further expand the product range by offering a combination of whole loans and mezzanine debt.”

The fund manager has provided around £200m of loans secured against over six million sq ft of property over the last four years.

“During this period, the UK regional debt market has undergone significant changes due to increased regulation imposed after the [global financial crisis] and further tightening post-Brexit,” said Michael Birch, chief executive of the firm’s UK debt subsidiary.

“As a result, there are now a limited number of senior lenders who are prepared to finance transactions with more complex portfolios, with multiple properties and tenants located across the UK.”


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