Westcore UK LLP Managing Partner-Roger Ford


(PRWEB) October 4, 2010

Westcore Europe LLC (“Westcore Europe”), in partnership with a US institution, has completed the acquisition of an 2,780,758 (£84,500,000) loan secured against a 105,000 square-foot grade-A office building in the City of London.

The acquisition follows Westcore Europe’s purchase of an ,909,000 (£18,400,000) loan secured against a 104,000 square-foot office portfolio, also in the City, in February 2010.

Westcore Europe, which is leading the vanguard of this type of transaction in the UK, is convinced that as banks and investors better understand loan pricing, management and performance as a specialist asset class, more activity and greater liquidity will enter the market.

Roger Ford, Managing Partner of Westcore UK LLP, advisors to Westcore Europe, said:

“Following our first loan acquisition earlier this year we predicted that banks would start to sell loans to financial investors. This major acquisition consolidates our position in the London market, and we believe it to be the largest loan secured against a single asset traded in the UK since the onset of the credit crunch.

We plan to continue actively pursuing loan acquisitions throughout the UK and mainland Europe. Westcore Europe has allocated several hundred million pounds to fund further acquisitions in this new and exciting sector.”

Westcore Europe has a wide debt investment remit. This ranges from the acquisition of whole loans through to investing in B-notes and other types of junior positions, as well as partnering banks and other lending institutions in managing individual loans and loan books through creating structured work-out solutions.

###






erase credit card debt