Aeriance Investments has appointed Chris Tessler to expand its residential/development lending remit.
The debt investor has recruited the former BLG mezzanine residential/development finance specialist to diversify loans provided by its €500m (£396m) Opportunistic Real Estate Loan Fund 2.
Until now the vehicle – and its predecessor – focused largely on providing development finance loans aimed at high-end residential properties in London.
Tessler, as director of origination, will now be looking for a “greater percentage of regional residential developments in strong residential markets across Greater London and major cities throughout the UK”.
OREL 2 provides senior and junior short-term and development finance loans targeting 10%-12% returns. In the year to July it had deployed £65m in the capital..
The firm’s chief executive, Harin Thaker (pictured), said: “We are seeing growing momentum for house building among smaller developers and as liquidity begins to move out from the London housing market into the regions .”
