Mark Kingston has quit the Royal Bank of Scotland after nine months to join Topland Group, the European property investor, as co-managing director alongside Clive Bush.
Kingston only joined RBS last October, where he joined as a senior real estate adviser in its global restructuring group (GRG), working across the West Register, the bank’s distressed direct property division, and the real estate restructuring teams reporting in to Laura Barlow, UK head of GRG at RBS.
Prior to which, Kingston was a director at Barclays Capital for two years, helping the bank restructure and exit its distressed real estate loans.
Kingston was at Tishman Speyer for 10-years before this, latterly as managing director and head of UK investments, working across several high profgile transactions, including Citypoint, Peterborough Court and Leadenhall Court and developments at Tower Place, Millbank Tower, Nexus Place and Centrium Aldwych.
Kingston said: “I am very much looking forward to joining Topland as they look to further expand their portfolio having purchased a number of assets over the last 18 months. It is a company which is very active and which has the resource and capital to take advantage of the dislocation in today’s market.”
Eddie Zakay, chairman of Topland Group UK, said: “We are extremely pleased to add Mark to our team. He has over 20 years of real estate experience in acquisition and development and will help us grow our portfolio.”
Back in April, Topland bought the 29-bedroom Royal Crescent Hotel in Bath for around £300m, one of the hotels which formed the Von Essen portfolio.
The Grade I-listed hotel was originally put on the market for £22m after Von Essen went into administration with debts of nearly £300m in April 2011.
Topland also bought two Hilton hotels from RBS, prior to Kingston’s arrival last year; the 319-bedroom Hilton Glasgow last September for £35.7m; and the 340-room Hilton Brighton Metropole for £39.25m in March 2011.
Topland reappointed Eddie Zakay’s brother Sol, who together founded the companies in the last 1980’s, as group chairman of Topland Group Holdings in February, three years after stepping down to move abroad.
Topland launched at £200m mezzanine residential fund in May last year, with co-investment from Dragonfly Property Finance and Westcity, the residential developer.
One of the first deals was a £12m facility to central London-based residential developer Quint & Flagship Group for their high end development of a five storey Georgian residence at 1 Hyde Park Place.
Topland is also exploring “the potential of the Spanish market”.