Tyndaris Real Estate, the property arm of Tyndaris LLP, deployed just over €100m of additional capital in the fourth quarter of 2015, across six transactions across Germany, the UK and France.
In addition, Tyndaris has bolstered its team with three new hires: Bank of America Merrill Lynch’s Imo Skrzypczyk, who has joined as a principal; Enrique Zouein, formerly of Kildare Partners and H.I.G. Capital, who has joined as an associate; and Iain Katimbo, formerly a financial controller at Valiance, has also joined the business as a fund controller.
Tyndaris’ six-deal flurry in Q4 comprise: three subordinate loans; a special situations investment in the UK; its first whole loan investment in France; and a portfolio recapitalisation in Germany.
The investments span office, industrial, residential and hospitality sectors. The investments were made on behalf of the Tyndaris Real Estate fund, which closed with €350m of capital in February 2015.
At the year end, Tyndaris had also realised three investments totalling over €90m of capital repaid at returns in excess of target. Following these events, the fund’s weighted average loan-to-value stands at 76% with the investments in the UK and Germany representing 75% of the outstanding portfolio.
Clark Coffee, partner and head of Tyndaris Real Estate, said: “We are delighted to welcome Imo, Enrique and Ian to the team. They provide us with a broad array of experience that has already benefited the velocity at which we assess opportunities and deploy capital.
“The business’ ability to source, execute and realise attractive investments in the face of increased liquidity and appetite from traditional lending institutions demonstrates that alternative lenders and debt funds have a permanent role to play in the European CRE financing market.”
Tyndaris Real Estate provides bespoke capital solutions to owners and operators of commercial real estate across Europe. The firm’s products include whole loans, mezzanine and subordinate loans, special situations capital and preferred equity.
Tyndaris Real Estate is active across all major asset classes and jurisdictions in Europe.