The former head of European portfolio management and UK CEO of global investment manager DWS, Jessica Hardman, has co-founded a new real estate investment management business with developer Downing.
Hardman has over 20 years’ experience in global real estate investment management and was recently appointed a president of the British Property Federation (BPF).
The new company, named Aboria Capital, headquartered in London, intends to leverage Downing’s 35-year development and operational track record, which has seen it deliver more than £3 bn (€3.55 bn) in real estate development across the UK, including 14,500 beds in the purpose built student accommodation (PBSA) sector.
The business will initially focus on realising Downing’s £1.6 bn pipeline, which includes 10 new projects planned to start on site at locations across the UK in 2025 and 2026, including a flagship co-living scheme, Square Gardens in Manchester. This latter project will comprise more than 2,500 beds on completion.
Said Hardman: 'Downing is recognised as a seasoned, high-quality living operating and development business. The UK and European living sector continue to be the most favored sector by international investors especially where managers can offer the benefits of a vertically integrated value chain across both the investment and operational disciplines.'
Bay Downing, executive director of Downing, added: 'We want to take advantage of the current dislocation in the market and the cyclical investment opportunities in front of us, which will produce long term generational value.
'We feel now is the right time to launch Aboria Capital, bringing together two hugely complementary skill sets in real estate and global investment management. We look forward to sharing more about our plans for this exciting venture in the near future.'
