Tunstall expands European debt fund strategy

By Paul Norman - Thursday, July 12, 2018 9:55

Tunstall Real Estate Asset Management, the pan-European alternative investment management firm, has widened the investment criteria for its debt fund DPO Fund 1 to take in a further eight geographies.

The fund was its first European debt strategy when it launched in July 2017 with capital to invest of up to €130m.

It was originally focussed on the Netherlands, but willl now look at opportunities in Germany, Denmark, Sweden, Finland, Poland, France, Portugal and the Czech Republic.

The Fund is a special situations debt fund that supports sponsors owning "good secondary or transitional assets, with compelling business plans that require creative financial solutions". 

It targets investments of between €2m and €20m, including the refinancing of NPLs through DPO transactions, whole loans at up to 80% LTV, mezzanine loans, bridge loans, certain development financings and preferred equity injections.

Most recently, Tunstall advanced a €7.7m development loan to a Dutch residential development specialist who will use the proceeds to convert a former office property in The Hague into luxury apartments.

Roger Clarke, Chief Executive of Tunstall, said: “Having successfully deployed the first round of capital raised for the Fund into restructured loans, we are now expanding our investment horizons in view of the broad appetite for the kinds of specialist solutions that we can provide and which are not otherwise readily available. Our latest loan marks an exciting new addition to our offering and reflects our ability to work with borrowers to achieve financial solutions that mainstream lenders are unable to facilitate, positioning Tunstall as an attractive partner for many sponsors across Europe.”

pnorman@costar.co.uk

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