Mount Real Estate Capital Partners, eXapital Capital Advisors and Sonar Real Estate have set up a real estate debt platform in Europe.
The three firms have launched Substnz, a platform that aims to provide financing solutions for property owners and developers in Europe.
The company will initially target Germany and the UK, but will a European growth strategy over the long term.
Substnz invests for existing institutional and professional investors through club deals and individual mandates, the founders said.
Karsten Lieser, managing partner at Substnz, said: “Given the current challenging environment and the growing regulatory pressure on banks, there is an additional need for alternative financing options.
“At the same time, investors are increasingly interested in debt investments at the new price level, as they can achieve attractive risk-adjusted returns in this area. With substnz, we aim to provide individual solutions for market participants on the debt side to address existing financing gaps.”
Roger Neumann, managing partner at Substnz, said: “The close integration of capital market and credit expertise, combined with local real estate knowledge, sets us apart. We have a long-standing track record built on strong partnerships and diverse skillsets of the participating companies.
“This applies not only to the successful writing of new loans and investments into existing and new developments in good times but also in times of crisis.”
Christoph Wittkop, managing partner at Sonar Real Estate, said: “Our clients benefit not least from an extremely complementary and extensive network in the areas of real estate owners, banks, service providers, investors and project developers. With our international setup, we are already locally well positioned.”
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