Investment manager M7 Real Estate and Mount Street Loan Solutions LLP have launched a joint venture focusing on the acquisition of non-performing loans.
Investment manager M7 Real Estate and Mount Street Loan Solutions LLP have launched a joint venture focusing on the acquisition of non-performing loans.
The Mount Seven joint venture combines Mount Street’s loan servicing business with the asset management and underwriting services provided by M7. In a statement, the partners said the JV has already signed heads of terms with an investor on an existing NPL portfolio sale and expects to play a major role in various upcoming sales across Europe.
Bill Sexton, managing partner of Mount Street said: ‘There are few operating partners that are able to underwrite both the assets and the loans, let alone service both parts of the NPL equation post acquisition. We believe that the combined platform offers a unique service that will appeal both to vendors and investors.’
Mount Street currently services more than €25 bn of loan facilities in 14 European countries and has offices in London and Frankfurt. M7 Real Estate manages around €1.7 bn of assets across 10 jurisdictions.
Richard Croft, M7’s chief executive, added: ‘The teams have worked together already on a couple of loan underwrites and the combination of the two skill sets really does in our opinion offer a unique and compelling service to investors in this space.’
