REAL ESTATE – Dutch banking group, in a bid to enhance its range of real estate-related banking and advisory services, has formed ING Real Estate Capital Advisors, or RECA.
RECA will offer fully integrated banking, capital markets and advisory services to real estate owners, companies and investors. It will initially have operations in Amsterdam, Brussels and London, ING indicated.
The new provider is a joint initiative of ING Wholesale Banking’s corporate business and ING Real Estate.
The new business will be headed by Christophe Tanghe. “Working for leading institutions in Europe and the US, Christophe has over 17 years experience in real estate investment, development and advisory activities,” it said.
“As an investor, he was a founding partner of Security Capital and Lehman Brothers’ real estate investment businesses in Europe. Most recently, he worked with Hines, a global property development company, to further its growth in Europe. Prior to this, Tanghe worked as a real estate investment banker for JP Morgan,” ING added.
“Global real estate markets continue to grow, attracting an increasing number of investors to the sector, and bringing significant changes in the real estate public and private markets and generating increasingly sophisticated investment challenges and opportunities,” Eric Boyer, ING Group executive board member commented.
ING is a global financial institution of Dutch origin, offering banking, insurance an asset management to over 50 million clients in over 50 countries.