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New Downing investment director to property finance team 2019
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London-based investment manager, Downing LLP, is pleased to announce the appointment of Richard Lamb to its growing Property Finance investment team.
Richard joins Downing from Octopus Property, where he held a business development role focused on providing stretched senior debt finance for regional property developers across London, the South East and South West. He has also previously held roles at Triodos Bank, Unity Trust Bank, Clydesdale Bank and Barclays.
Parik Chandra, Head of Residential Development Finance at Downing, said:“We are very pleased to be adding further expertise to our expanding Property Finance team - Richard has 18+ years experience in the sector and over 30 years banking experience overall. He will be an integral part of the team, with a focus on nationwide residential development finance deals where the debt requirement is £2 - £10 million.”
Downing Development Finance (DDF), established in 2017, has now committed loans of over £80 million, and the total GDV of schemes DDF has funded/is funding exceeds £135 million. This translates to facilitating the development of over 430 residential units across the UK.
Chandra concludes:
“While the market remains challenging due to ongoing political uncertainty and natural cyclicality, we believe there are still good deals out there. Our pipeline remains strong and we are continuing to expand our network and support experienced developers.”
