Crescendo Announces Two New Real Estate Debt Deals
Updated: Jul 28
London – 16 July – UK-based real estate investment firm, Crescendo Real Estate Advisors LLP, announced today the completion of two new transactions made by its Debt Fund and capital partners – a first mortgage acquisition loan for the purchase of a residential-led mixed use regeneration site in East Sussex. The loan will enable the owner to progress the planning process and subsequent construction of a key site in the area. Secondly, a mezzanine loan to fund the acquisition and construction of the first Topgolf entertainment venue in Continental Europe. Topgolf is a multi-billion-dollar global golf concept in sporting entertainment, and its European partner identified a high-traffic area in Germany to build the first facility in Continental Europe.
‘With financing from more typical financiers increasingly hard to come by, developers are increasingly turning to specialist firms, such as Crescendo Real Estate, to gain the access to funds and swift processes needed to undertake and complete new projects. The projects not only create development in under-utilized locations, but also boost the local economy by increasing employment and housing supply’, said Cabot Lodge, one of Crescendo’s founders.
Dan Quai, Crescendo’s other founder continued, ‘Given the unique nature of the projects, the borrowers sought out a specialist real estate firm such as Crescendo that understands real estate, can underwrite the business plans of the sponsor and successfully document new projects within the time frames that developers require.’
For Crescendo’s investors, the transactions offer the prospect of strong double-digit IRRs. ‘We are pleased to be able to partner with strong real estate owners and developers, whilst providing for strong risk adjusted returns for our investors,’ said Michael Dey, Crescendo’s real estate debt fund portfolio manager.
Crescendo will be undertaking further capital raising activity towards the end of 2021 as it continues to see a strong pipeline of real estate debt deals across Europe.
Editor’s note: Crescendo Real Estate Advisors is a boutique real estate investment management firm with c$500m in assets under management, a team of 15, and investments in real estate markets around the world.