FINANCE: Aeriance Investments has appointed Chris Tessler as director of origination as it expands its residential lending remit to the regions.
Tessler has joined to accelerate the company’s move into development financing to independent residential developers on behalf of its €500m (£396m) Opportunistic Real Estate Loan Fund 2.
To date, OREL has largely focussed on providing development finance loans aimed at high end residential properties in London.
The follow-on vehicle will now focus on diversifying funding, by originating a greater percentage of regional residential developments in strong residential markets across Greater London and major cities throughout the UK.
Tessler has more than 25 years of banking experience focussed on placing commercial real estate loans with banks, institutional lenders, funds and other specialist real estate finance providers.
He joins Aeriance from BLG where he was responsible for the origination of mezzanine residential development finance loans.
Prior to this, Tessler was at Investec Bank, where he focused on asset origination and the sourcing of debt and equity financing for Real Estate and Alternative Asset classes.
Aeriance Investments chief executive, Harin Thaker, said: “Chris brings a significant amount of resource and experience to our team as we look to focus on originating deals for residential developments across the UK.
“We are seeing growing momentum for house building amongst smaller developers and as liquidity begins to move out from the London housing market into the regions we are very excited about originating further business within this group of borrowers.”
