- Expansion fueled by increasing investor demand for NPL, debt advisory and loan servicing solutions -
LONDON, June 12, 2015 /PRNewswire/ -- Hatfield Philips International ("HPI") and LNR Europe (collectively, the "Company"), which serve as a leading NPL and debt advisory firm with best-in-class loan servicing capabilities, is pleased to announce its strategic expansion into Spain with the formation of Hatfield Spain, S.L., ("HS") a wholly-owned subsidiary of HPI. Based in Madrid, the country's leading financial centre, HS is located in the heart of the city's central business district.
Blair Lewis, Chief Executive Officer of HPI/LNR Europe, commented, "With the formation of Hatfield Spain we have further entrenched ourselves in the market, thus broadening our ability to provide high quality NPL underwriting, restructuring and workout services to European debt investors looking to prudently deploy capital in the Spanish commercial real estate market. Over the past three years, our team has underwritten more than 50 NPL deals with approximately $72 billion in unpaid principal balance across 28 jurisdictions. Having demonstrated this compelling track record to date, we are poised to help investors take advantage of the robust volume of deals hitting the Spanish market."
HS was established to provide NPL, debt advisory and loan servicing solutions in response to the increasing volume of Spanish loan portfolios hitting the market due to bank deleveraging and opportunity for alternative lenders to step in and offer financing at competitive rates of leverage. The Company is currently performing services in respect of Spanish real estate debt totaling $1.2 billion on behalf of existing clients. Such mandates include the repositioning and sale of the Heron City shopping centre in Barcelona and acting as strategic advisor on the Amazona portfolio. HS is actively seeking to advise and service investments made by local institutions and help them access international capital for their restructuring needs. In addition, HS will pursue co-investment opportunities.
"Launching a Madrid office is something we have contemplated for some time due to bank restructurings post-crisis and the creation of SAREB, which has resulted in a steady flow of NPL portfolios," said Wilhelm Hammel, Head of NPL Advisory at HPI/LNR Europe. "Furthermore, we are well positioned to capitalize on real estate debt advisory opportunities given the limited availability of debt financing facilities in the market. While many competitors target residential portfolios, our intention is to differentiate Hatfield Spain by focusing primarily on commercial real estate debt, providing us with a compelling niche market opportunity."
Carlos Quiroga and Federico Esnarrizaga, who joined the Company earlier this year, will oversee HS' growth and operations reporting directly to Mr. Hammel. Messrs. Quiroga and Esnarrizaga, who previously worked together at Royal Bank of Scotland (RBS), are seasoned commercial real estate debt professionals with a deep understanding of and network in the Spanish market. They have full access to the Company's resources in London and Frankfurt. HS plans to expand its team of NPL, debt advisory and loan servicing specialists during the course of 2015.
About Hatfield Philips International Ltd.
Hatfield Philips International ("HPI"), together with LNR Europe, is a leading NPL and debt advisory firm with best-in-class loan servicing capabilities. From NPL underwriting to co-investing to helping lenders execute on debt strategies, HPI is uniquely positioned to deliver multiple layers of value to a wide range of debt market participants. HPI accomplishes this by leveraging a highly seasoned team of real estate finance, workout, debt servicing, and client service specialists. Founded in 1997 on the principles of trust, integrity and providing the highest levels of customer service, HPI has the experience and capabilities to partner with clients to achieve their business and investment objectives. HPI is a subsidiary of LNR Property, a United States-based real estate investment, finance, management and development firm, which was acquired by Starwood Property Trust in April 2013. For more information please visit us at http://www.hatfieldphilips.com/.
Starwood Property Trust
SOURCE Hatfield Philips International