DRC Savills IM announces close of
Pan-European Whole Loan Fund
30 October 2024
DRC Savills Investment Management (DRC SIM), the specialist real estate debt business of Savills IM, has announced it has received over €200 million in commitments into its new Pan-European Whole Loan Fund. This fund, the latest in a series of successful Whole Loan funds, brings together separate UK and European lending programmes into a unified fund format available to investors in both GBP and EUR.
Commitments have been secured from seven institutional investors from North America, Europe, and Asia, highlighting the attractiveness of this lending strategy and DRC SIM’s established track record in sourcing and investing in real estate-backed loan opportunities across Europe.
The fund will target loans to top-tier sponsors investing in the acquisition and capital expenditure led enhancement of real estate across Europe. These property improvement business plans are essential in creating new core assets but remain underserved by traditional lenders. By addressing this market gap, DRC SIM is well-positioned to offer attractive risk-adjusted returns, under pinned by the significant price corrections in recent years. Credit performance is anticipated to be strong in this investment vintage.
Despite a challenging fundraising environment for real estate strategies, DRC SIM’s early success in attracting over €200 million in commitments demonstrates the strong demand for this offering. The fund has already committed to two loan investments, and a significant portion of the initial capital is expected to be committed by the end of 2024.
Dale Lattanzio, Managing Partner at DRC Savills IM, commented:
"We are pleased to see strong institutional interest in our Pan-European Whole Loan Fund, reflecting the continued demand for tailored financing solutions across Europe. In the current market, many traditional lenders are unable to meet the needs of sponsors seeking to enhance real estate through capital expenditure. Our long track record and the ongoing supply-demand imbalance position us to deliver strong, risk-adjusted returns for our investors. We remain confident in the fund’s ability to meet its objectives and support key lending opportunities in the months ahead."
This press release is considered a marketing communication. Please refer to the fund’s private placement memorandum before making any investment decisions.
DRC Savills Investment Management LLP is a limited liability partnership registered in England No: OC371403 authorised and regulated by the Financial Conduct Authority.
CONTACT US
Citigate Dewe Rogerson
Will Easton
+44 (0)20 7025 6400
SavillsIM@citigatedewerogerson.com
"We remain confident in the fund’s ability to meet its objectives and support key lending opportunities in the months ahead.