BNP Paribas Real Estate has appointed a head of residential capital markets in the UK.
Andrew Screen said the Built to Rent (BTR) sector had experienced rapid growth over the past few years, presenting a chance to expand on the agent’s work in the sector.
He will aide developers and investors in negotiating and securing funding and investment opportunities as the residential sector moves beyond single asset to stabilised portfolio transactions.
BNPPRE’s residential capital markets team is currently advising on the forward funding of over £800 mln (€945 mln) gross development value of BTR projects making the team one of the most active in the market, it said.
Recent projects include acting for Marrico Asset Management and Helios Real Estate on the forward funding deal from UK Commercial Property REIT on the £62.7 mln 305-bed Hyatt hotel, Leeds.
Screen, who is South African, has had a long career in real estate stretching back to 1994 when he joined Standard Bank in Johannesburg as bank manager, property finance.
He has worked for CBRE in London twice. Most recently, he was CIO UK for US multi family firm, Cortland Partners. Cortland has a £4 bn BTR programme in the UK. Joint venture partners of Cortland include Harrison Street.
