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Savills IM Buys into Debt Advisor

Savills Investment Management has acquired an initial 25% stake in commercial real estate debt investment adviser DRC Capital. The deal includes an option to acquire the remaining 75% in 2021, according to Savills announcment.

The acquisition will allow Savills IM to broaden its investment proposition to include a range of debt lending strategies in order to better service clients. Founded in 2012 by Dale Lattanzio, Rob Clayton and Cyrus Korat, DRC has been a leading player in the emergence of real estate debt investment vehicles in Europe. It has arranged over £2.6 billion of debt investments since inception and currently has assets under management of £2.0 billion across a range of senior debt, high yield and whole loan products. DRC achieved one of the top 10 largest real estate fund launches in Europe in 2017 with its £600 million ERED III high yield fund. Five of the top 10 launches were debt funds, according to Preqin

Dale Lattanzio will join the Savills IM Global Executive Committee while members of the Savills IM senior leadership team will be appointed to the DRC Management Committee. Nick Cooper, Chairman, Savills Investment Management, commented: “DRC has been an innovator in the real estate debt space and has rapidly built an enviable position in a competitive environment. The DRC team is highly regarded in the industry with an impressive track record and the combination with Savills Investment Management will enable us to provide our investors with product access to the entire real estate capital structure.

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