DRC Savills Investment Management enters US real estate debt market for the first time through joint venture with QCP LLC
10 January 2024
London, 10th January 2024. DRC Savills Investment Management LLP (“DRC SIM”), the specialist debt investment platform of Savills Investment Management ("Savills IM"), is pleased to announce it has entered into a joint venture with QCP LLC (“Quadrant”), the owner of Quadrant Real Estate Advisors LLC (“QREA”), to establish a US real estate debt investment business. This is the first time DRC SIM has offered a US debt investment proposition.
The joint venture is majority owned by DRC Savills IM and will operate under the ‘DRC Savills IM US’ branding, as its North American platform. It will bring together the expertise of both firms in providing real estate debt investment products for institutional investors.
Quadrant is owned by Kurt Wright (Managing Partner), Jessica Eggins and Walt Huggins, supported by a team based in Atlanta currently managing debt investments on behalf of institutional investors. Quadrant was established in 2006 following a management buyout from GMAC Institutional Investors.
DRC SIM was founded in 2012 by Dale Lattanzio, Rob Clayton and Cyrus Korat, and is a leading European real estate debt investment manager. It has arranged over £5 billion of debt investments since inception and currently has assets under management of £2 billion across a range of senior debt, high yield and whole loan products. Savills IM acquired DRC SIM in May 2021.
Commenting on the transaction, Dale Lattanzio, Managing Partner of DRC Savills IM, said:
"This new platform with Quadrant is a full service, sophisticated US real estate debt investment offering. It will allow our investors to take advantage of the deep combined expertise of both parties and the favourable market conditions for alternative lenders in the US. We look forward to building a long and successful partnership with the highly experienced Quadrant team."
Alex Jeffrey, Chief Executive of Savills IM, commented:
“US real estate debt has elevated in significance and demand over the past few years. Following our acquisition of DRC SIM in 2021 we are delighted to build on the growth and success of DRC SIM in Europe and Australia with this new venture. The US is a strategic market for us and to be able to enter through our debt investment business represents a compelling opportunity.”
Kurt Wright, Managing Partner of Quadrant, said:
“I am excited to combine our deployment expertise in the US with DRC SIM’s capital raising and product structuring teams in Europe to create a long term offering for our current and future investors.”
We look forward to building a long and successful partnership with the highly experienced Quadrant team.