Tunstall expands its European lending strategy to include eight further territories
Tunstall Real Estate Asset Management, a pan-European alternative investment management firm, has expanded the investment criteria for its debt fund DPO Fund 1, its first European debt strategy which was launched in July 2017 with capital to invest of up to €130 million ($152 million).
Originally focused on the Netherlands, the fund will now consider opportunities with borrowers across eight further geographies including Germany, Denmark, Sweden, Finland, Poland, France, Portugal and the Czech Republic.
The fund is a special situations debt fund that supports sponsors owning good secondary or transitional assets, with compelling business plans that require creative financial solutions.
Tunstall will normally consider investments of between €2 million and €20 million ($2.34 million and $23.34 million), including the refinancing of NPLs through DPO transactions, whole loans at up to 80 percent LTV, mezzanine loans, bridge loans, certain development financings and preferred equity injections.
Most recently, Tunstall executed on this strategy in the Netherlands advancing a €7.7 million ($8.99 million) development loan to a Dutch residential development specialist who will use the proceeds to convert a former office property in The Hague into luxury apartments.
Roger Clarke, chief executive of Tunstall, commented: “Having successfully deployed the first round of capital raised for the fund into restructured loans, we are now expanding our investment horizons in view of the broad appetite for the kinds of specialist solutions that we can provide and which are not otherwise readily available. Our latest loan marks an exciting new addition to our offering and reflects our ability to work with borrowers to achieve financial solutions that mainstream lenders are unable to facilitate, positioning Tunstall as an attractive partner for many sponsors across Europe.”
