TenFifty Capital, in alliance with global asset manager Apollo, has rolled out a European lending platform to serve self-storage and other commercial real estate (CRE) sectors. Launched this month by TenFifty founder and CEO Hugh Fraser, the lender will provide €10 million to €50 million loans throughout core markets including Germany, Ireland, Italy, the Netherlands and the United Kingdom. The company aims to originate €1 billion to €2 billion in loans in its first year, according to a source.
“I’ve long held the belief that the small and mid-market European CRE debt space is often neglected and ripe for improvement,” said Fraser. “TenFifty Capital exists to address that gap, with a genuinely pan-European platform dedicated to supporting this sector of the market. I'm thrilled to be working with a company of Apollo’s caliber, having experienced first-hand the strength of their balance sheet, but more importantly, the strength of the Apollo team’s approach to building long-term partnerships.”
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“Hugh has earned a remarkable reputation in the European real estate market. We have worked with him for many years and are pleased to now formally partner with the launch of TenFifty as a new, high-performing platform,” said Ben Eppley, head of real estate credit in Europe for Apollo. “At Apollo, as one of the largest non-bank commercial real estate lenders in Europe, we believe this small and mid-market strategy will be highly synergistic with our broader real estate credit business and enhance Apollo’s granular origination capability while maintaining a focus on first-lien mortgages secured by high-quality assets and institutional borrowers.”
With offices in Amsterdam, Berlin, London and Madrid, TenFifty will serve multiple CRE sectors including food retail, hospitality, industrial, logistics, parking, prime office, retail warehousing, self-storage, and senior and student housing.
Through its retirement-services business Athene, Apollo specializes in helping clients achieve financial security through its retirement-savings products and acting as a solutions provider to institutions. The company has approximately $840 billion of assets under management.
Source: Apollo,TenFifty Capital, a New European CRE Lending Platform, Announces Its Launch
ISS Staff
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