Valad hires PwC’s Marriott
Valad Europe has hired PwC’s Simon Marriott as head of UK real estate. Marriott was director of the real estate transactions team at PwC and previously worked as senior vice-president and investment director at Oxford Properties.
Co-op unloads repo arm
The Co-operative Bank has sold its loss-making repossession subsidiary Illius Properties to Salmon Real Estate for £157.5m. The sale is in line with the bank’s strategy to dispose of non-core assets.
RBS signs £50m refi deal
RBS has agreed a £50m refinancing facility with Peel Land & Property Group as part of a divisional restructure. The four-year facility will assist the developer and asset manager with strategic management of its property portfolio. Group treasurer James Chadwick said: “This facility gives us the flexibility to manage our broad range of assets effectively.”
Cornerstone appoints Gabriel
Cornerstone Real Estate Advisers has hired Julian Gabriel, the former head of Doughty Hanson & Co Real Estate, to source new opportunities across Europe. Gabriel was formerly head of real estate at DHCRE.
Conygar posts NAV hike
The Conygar Investment Group has posted a 13.1% jump in net asset value per share to 197.5p for the 12 months to 30 September. Pretax profit rose to £20.5m from £7.4m. As at
30 September it had £71m available for acquisitions. Net debt was £15.6m.
