Zaggora LLP - UK Real Estate Investment Advisors

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Zaggora LLP - UK Real Estate Investment Advisors

  1. 1. “the best time to plant a tree is 20 years ago, “ h b i l i the second best time is now” -African proverb London Dubai Chris Hancock Armel van Erck No. 1 Grosvenor Crescent | London | SW1X 7EF PO Box 211 210 | Dubai | United Arab Emirates T: +44 (0) 203 170 7020 T: +971 442 17 866 F: +44 (0) 203 170 7021 F: +971 442 17 885 www.zaggora.com
  2. 2. Zaggora LLP • Zaggora LLP is a private real estate investment partnership focused on acquiring direct commercial property assets and real estate backed businesses in the UK and Europe on behalf of private investors. • The partners of Zaggora have a wealth of successful experience in acquiring, financing and managing commercial real estate assets and companies i th UK and E i in the d European markets with a combined £5b of k t ith bi d £5bn f deal experience. • Together they have over a 100 years experience in advising high profile companies, individuals and governments on their real estate portfolios having worked at Knight Frank, Nationwide, Allied Irish Bank, Cushman & Wakefield, Savills, The Ability Group, JP Morgan, Rotch Property Group, RBS, Fortis Bank & SMPA. • Individual real estate investment strategies are tailored to meet specific investor objectives, be it for annual income, capital growth or arbitrage. Zaggora tailors these strategies for investors and then executes on their behalf. Zaggora LLP No.1 Grosvenor Crescent | London | SW1X 7EF T: +44 (0) 203 170 7020 ( )2 2 • Zaggora i Z investors are b d i E based in Europe, the Middl E and A i and h Middle East d Asia d F: +44 (0) 203 170 7021 are family offices, individuals and institutions. www.zaggora.com 2010 2
  3. 3. Market sectors Logistics Retail Office Zaggora is focusing on opportunities in these sectors to deliver annual cash yields  and total return for investors over 5 10 years. and total return for investors over 5‐10 years Healthcare Hotels Residential 2010 3
  4. 4. Zaggora partnership model Investment Company Delivery Individual investment companies are created for each Each investor benefits from the expertise and experience  investment according to each opportunity and strategy as of the asset manager who each specialise on their core  defined and agreed between Zaggora and the investor(s). skill set. The investment company will have a closed end and a determined investment horizon as defined in advance of the investment. Manager £50-500mn Investment Company Delivery Manager Zaggora originates real estate investment opportunities in the market that match the criteria of the investment company. Zaggora monitors the asset due diligence performed by the legal team and works to finance the purchase with senior lenders. The investment company executes the purchase. Zaggora then manages the asset to add value where ever possible over the designated time horizon at the asset level At disposal Zaggora solicits on behalf of the fund the level. disposal, best offer for the asset and oversees the disposition process. 2010 4
  5. 5. Partners’ track record in sales, acquisitions and management prior to Zaggora Acquisition of top two floors of the  Acquisition of Shell Mex House on Adelphi for Cookson Group plc Sale of the Home Office building at Liability unwind of five British Rail Letting of 100,000 square feet to Oracle the embankment for £365mn, lease properties in Manchester, Liverpool, Apollo & Lunar House, Croydon p , y Corporation plc at Bracknell p p re‐gear with Pearson Plc and sale ith P Pl d l Crewe, Croydon and Derby for £500mn Acquisition of Hilton Liverpool, a  Sale & leaseback of the WestLb Letting of 14,000 sqm to BSB and QVC G Et t d l Grosvenor Estates development,  t Woolgate Exchange for £280mn and sale of Marco Polo House at Development of Priory Meadow shopping for £55,5mn Battersea, London centre for Boots Sale and leaseback for ITN of their  Acquisition of the headquarters building on Gray’s  Cambridge Garden Inn Road. House hotel from Goldman Sachs for Development and sale of 120 £40mn and a full re‐ residential units on Baker Street branding to the for £100mn for Ability Group Doubletree Hilton brand Acquisition of Carillon  building in  q g Acquisition of seven shopping centres in Paris La Defense for € 97 million Germany with €100mn credit line from Hypo Real Estate Bank. 2010 5
  6. 6. Partners’ track record in financing, prior to Zaggora January  2007 November 2007 November 2007 November 2006 November 2007 July 2007 August 2007 € 90,000,000 £148,000,000 £20,250,000 €100,000,000 £25,500,000 £49,500,000 £10,000,000 Infrastructure acquisition  Acquisition & Development  Acquisition & Development of  Acquisition Warehouse‐line for  Acquisition finance for UK  Acquisition finance package Acquisition of UK Hotel Bavaria, Germany finance package UK Hilton Hotel German retail assets hotel for UK Hilton hotel November 2008 October 2003 November 2007 December 2008 September 2003 July 2008 November 2007 £50,500,000 €18,500,000 €43,000,000 £28,500,000 € 97,000,000 £250,500,000 £40,000,000 May 2005 Maturity of facility on central  Acquisition & Development of  Acquisition & Development of  Development facility for UK  Acquisition of office Basis swap over UK financial  London residential asset office property in Paris hotel in Sicily, Italy Hilton hotel Property in Paris, France assets Development of a UK Hilton January  2009 November 2007 August 2007 November 2006 January 2009 July 2008 November 2008 $ 50,000,000 £25,000,000 £10,000,000 €12,000,000 £28,500,000 £110,000,000 July 2007 Re‐finance of office property in  Acquisition & Development of  Acquisition & Development of  Acquisition of shopping centre Development facility for UK  Basis swap against financial  Moscow property UK UK Hilton Hotel office and hotel  assets UK Mandate UK investment  programme January  2005 January 2005 August 2007 August 2007 September 2007 September 2007 March 2009 March 2009 November 2007 November 2007 October 2007 October 2007 December  2006 December 2006 € 10,000,000 £55,500,000 $40,000,000 £100,000,000 £25,500,000 €19,500,000 £60,000,000 July 2007 Facility against retail asset Acquisition of UK Hilton hotel  Acquisition of Gulfstream G450 Sale of Abbey House, Baker  Acquisition of UK Hilton hotel Acquisition of European retail  Acquisition & Development  from Grosvenor  from Grosvenor Street, ondon Street, London portfolio finance package finance package 2010 6
  7. 7. Management Team Malcolm Bell, Managing Partner http://uk.linkedin.com/in/malcolmbellzaggora Malcolm has been buying and managing commercial property since he worked with Robert and Vincent Malcolm joined The Ability Group in 2006 as Head of Investments, Capital Markets and Treasury. The Tchenguiz at the Rotch Property Group which was then the largest private property company in the UK. group, led by principal Andreas Panayiotou, had built a 1,000 strong development team over 15 years The Group had over £4bn of assets spread across £1.5bn of public sector property leased to local was a principal investor into residential property. The group had developed over £1bn of assets authorities, councils and central government and £3.5 bn leased to corporates such as Tesco, BT, Hilton across some 6,000 residential units in Central London as well as over 1 million square feet in‐build of and Shell. Malcolm’s role was to promote the group, introducing opportunities and then modelling new property, all pre‐sold off‐plan. The Group now wanted to invest into commercial property asset cash flows and developing acquisition structures. Specific deals included the Hilton Hotel in Paris and a classes such as hotels, offices, retail and industrial property across Europe. 10 Hilton portfolio in the UK which the group acquired with Farnsworth. Malcolm was responsible for the day‐to‐day operations of the investment team in acquiring, Malcolm worked with Paris based asset management firm Inovalis which acquired over €300mn of managing, financing and developing commercial investments. He worked closely with the origination commercial property in France and Germany varying from €18,5mn residential buildings to a team sourcing investment opportunities, advising on acquisitions and being responsible for their commercial office b ildi i L D f i l ffi building in La Defense f €97 for €97mn. Th These i investments were sponsored b hi h net t t d by high t financing and execution. Si fi i d ti Since 2006 th G 2006, the Group acquired over €500 i d €500mn of commercial property assets. f i l t t worth Gulf investors and the fund performed exceptionally well with investors achieving above 35% net In the UK, Malcolm successfully acquired £300mn of Hilton hotels as well as selling £250mn of IRR over 4 years. residential property. Hotel asset purchases included the Hilton Liverpool from Grosvenor Estates, the Cambridge Garden House from Goldman Sachs, Dunblane Hydro from Starwood Capital as well as two In 2002, Malcolm created a Russian company called OAO Ukolm with Yuri Tereschenko. The company new developments in Syon Park, West London and at Luton Airport. assisted in the development of a property in central Moscow from industrial to commercial use. The property now has over 55,000 square metres and an annual cash flow of $25 million and was recently In Europe, Malcolm acquired seven shopping centres in Germany with a €100 mn financing line from valued at $280mn The rent roll began at $4mn and the property was valued at $35m This $280mn. $35m. Hypo Real Estate In Italy the Group acquired the € 62 5mn 200 acre Club Med estate in Kamarina Estate. Italy, 62,5mn Kamarina, development was on behalf of a local company GPZ‐2 which owned the property and Ukolm advised on Sicily. Malcolm created the Luxembourg based tax structure for Ability’s investments by working with the commercial leases to tenants such as Alfa Insurance, KMB Bank, Firmeniche, Samsung, Leroy‐Merlin Atoz and BDO Chilterns. Malcolm also monitored the treasury functions of the Group such as and Sylvanski Bank which were sourced through Ukolm appointed Cushman and Wakefield. Ukolm also evaluating investments into structured products as well as cash management, working with Ability’s advised and discussed the financing of the project with a collection of Russian banks and Deutsche in‐house financial controllers. Bank based in London. Malcolm has worked with all of the partners of Zaggora over the last few years. Malcolm studied BSc In 2005 Malcolm began working with Vincent Tchenquiz again at the Consensus Business Group with (Hons) Economic History at the London School of Economics where his thoughts on international the responsibility of developing a direct infrastructure investment programme into fixed assets in economy were published in the Wall Street Journal, Financial Times and Herald Tribune. He also Europe. Malcolm worked to find projects and structure the financing, managing a team of 10 and created the Russian Business Society which is now one of the largest student societies at the LSE with working closely with the finance team at CBG. This involved designing acquisition structures, modelling 800 members. cash flows, overseeing legal and working with equity partners and mezzanine providers to develop a €500mn investment programme. E: Malcolm.bell@zaggora.com T: +44 (0) 203 170 7020 No. 1 Grosvenor Crescent F: +44 (0) 203 170 7021 London SW1X 7EF 2010 7
  8. 8. Management Team Chris Hancock,  Senior Partner http://uk.linkedin.com/in/cmjhancock Chris Hancock is a Senior Partner of Zaggora and an expert in the corporate finance and wealth He developed an expertise in the needs of family businesses and entrepreneurs and management needs of wealthy individuals and institutional investors. Chris works on active established a team to help service private businesses with the resources of investment propositions, deal structuring and due diligence. He oversees the tax, accounting and JPMorgan. legal affairs of each of the investment structures within the Zaggora portfolio. Chris’s work involved co‐ordinating credit, estate planning, asset allocation and Chris spent 10 years with JPMorgan including two years at JPMorgan Cazenove where he was investment banking. During this time he led JP Morgan’s Family Business Honours responsible for the delivery of investment banking services to families and private individuals programme in the UK from 2004‐2008 and was a member of the Advisory Council of resident in the UK It was in 2008 that Chris and Malcolm met when Malcolm was Head of UK. the Institute for Family Business Business. Investments at The Ability Group. Ability instructed JP Morgan Cazenove to assist in developing a £500ml equity fund to accelerate and scale their investment strategies at the time. Since leaving JPMorgan at the end of 2008 Chris has established his own corporate finance boutique, Cleaver Consulting, focussed on providing advice on M&A and Chris is a qualified Chartered Accountant and spent 5 years with Arthur Andersen before entering financing to entrepreneurs. Chris began working with Malcolm Bell and Zaggora in investment banking. At Arthur Andersen he spent 4 years as a hotels specialist in the Hospitality and April 2009 when they established the partnership together. Leisure team. Amongst his work in the sector he ran annual audits of hotels and led the vendor due diligence for the Copthorne Hotel group on its sale by Aer Lingus Lingus. Chris read classics at Oxford University he is married with three children a keen University, children, sailor and licensed as an Occasional Preacher in the Church of England. On promotion to Manager he ran special projects including the first ever consolidation of INA, the state oil company of Croatia. He also lead the initial due diligence on Canary Wharf on its acquisition by a syndicate lead by Paul Reichmann from the UK receivers of Olympia and York. E: Chris.hancock@zaggora.com T: +44 (0) 203 170 7024 No. 1 Grosvenor Crescent He joined the UK M&A team of Baring Brothers in 1995 being promoted to Manager and then F: +44 (0) 203 170 7021 London SW1X 7EF Assistant Director in consecutive years At Barings he worked on a series of public offers and years. defences and developed a specialism in advising investment trusts developing innovative buy‐back structures to reduce the discount to NAV. Chris joined the TMT team of JPMorgan in 1999 being promoted to Vice President and Head of European Media in 2000. Following the investment banking slump of 2002, Chris began working with JPMorgan’s Asset Management division to provide investment banking services to the clients and contacts of the Private Bank Bank. 2010
  9. 9. Management Team Khurshid Faizullaev  Partner http://uk.linkedin.com/pub/khurshid‐faizullaev/18/492/713 Khurshid, also known as ‘K’, joined Zaggora as a Partner in 2010 and is Head of Asset Management, K oversaw the re‐branding of some of the hotel assets to Hilton, including Cambridge and Dunblane overseeing the daily operations of all of the assets within the portfolio whether they be real estate as well as managing the transition. His responsibilities ranged from budgeting, identifying targets and or asset‐backed businesses. revenue improvement plans for each investment and delivering them, managing the accounting practices through financial controlling, creating and implementing HR policies to managing the senior He H previously worked as H d of A t M i l k d Head f Asset Management at th Abilit G t t the Ability Group b t between 2006 and 2009 d management and operations and marketing of t di assets. t d ti d k ti f trading t where he was responsible for managing and operating all properties and investments within the portfolio of the Group. K managed a team of 1,000 people who worked for Ability owned Before each asset was acquired, K undertook extensive asset and commercial due diligence companies in hotels, real estate management and development. K was also Chief of Staff on behalf developing comprehensive business plans and asset management programmes for each, setting out of Chairman Andreas Panayiotou responsible for the Ability management team and the executive the key targets to be achieved during the investment holding period. He was also responsible for day‐ office. to‐day management of Ability development projects, overseeing the project management, cost controls and co‐ordination of design and build, fit‐out as well as managing professional advisers such Asset A t management i l d d oversight of i t included i ht f investments i t multi‐let retail shopping centres i t t into lti l t t il h i t in as architects, contractors and planning advisers. hit t t t d l i d i several major cities in continental Europe, UK and European hotels as well as commercial office and 1,000 residential property units in Central London. Ability was established by principal Before joining Ability, K was a Director of Spenview Capital Ltd, a company established by Malcolm Andreas Panayiotou who had developed a £1bn portfolio of residential assets since 1992. and himself to acquire and manage real estate and asset‐backed business investments on behalf of private investors from the Gulf. Spenview acquired assets in France and Germany and advised on Between 2006 and 2009, Ability acquired €500ml of commercial assets, as part of strategic plan financing £500ml of acquisitions in the UK. The company also oversaw the development of an office devised to orientate the Group away from its concentration in residential assets. K was an integral property in central Moscow of some 80,000 sqm in partnership with OOO Ukolm. part i th 6 month strategy d l t in the th t t development as well as th analysis of new i t ll the l i f investment sectors such t t t h as hotels, retail shopping centres and offices. The focus was to acquire under‐valued, yielding Originally from Uzbekistan, K attended the London School of Economics and Political Science and assets where performance could be boosted through intensive asset management. obtained a Law LLB (Hons) Degree. He was elected as Head of Communications by his peers at the LSE to run the students union, a year after his graduation with honours. Following that, he completed a K joined Ability with Malcolm who he had met at the London School of Economics where they Masters degree in Politics, Security and Integration at University College London with a distinction. studied together. They worked together at Ability to acquire the assets, undertaking due diligence and asset managing after completion. K ensured that the investment income performed to its full During his studies and after graduation, K worked in Parliament in Westminster as Parliamentary capability to deliver the highest returns possible against equity invested invested. Assistant to a Member of the UK Government He is also a winner of various awards from his Government. Universities and previous workplaces. He plays the piano, chess and speaks Uzbek, Russian, French To this extent, income from hotel investments increased by a compound rate annual rate of 20% and English fluently. between 2007 and 2009, in what was the most challenging market environment in recent memory. Specifically, K managed hotel investments including the €62,5ml Club Med Kamarina in Sicily, the E: khurshid.faizullaev@zaggora.com £60ml Hilton Liverpool, the £40ml Cambridge Garden House, the £40ml Dunblane Doubletree by T: +44 (0)203 170 7023 No. 1 Grosvenor Crescent Hilton, the Hilton Garden Inn development at Luton Airport as well as the development of the F: +44 (0) 203 170 7021 London SW1X 7EF Waldorf Syon Park Park. 2010 9
  10. 10. Management Team Armel Van Erck,  A lV E k Partner, Investor Relations http://ae.linkedin.com/pub/armel‐van‐erck/14/720/535 Armel is Belgian by nationality and was born in New York. He spent his early years residing in A li B l i b ti lit d b i N Y k H t hi l idi i He has also established relationships between the bank and large Gulf‐based Gulf based Frankfurt, London and Paris. He was educated in the UK and is comfortable in a wide range of institutions, providing their treasuries with an appropriately targeted range of international banking environments. alternative investments, managing assets in excess of USD35mio. From 2005, he has been based in Dubai, the United Arab Emirates, from where he has created an Armel obtained a BA(Hons) in Politics and International Relations from Richmond, the extensive and rapidly expanding network of high net worth private clients and institutions, in the American International University in London and read Law (CPE) at the University of Gulf Cooperation Council countries and Iran. Westminster. In 1996, he led a humanitarian mission in Gabon, where he was involved in the charitable restoration of schools and educational facilities During his facilities. With Zurich International Life, and Nexus, the largest insurance broker in the Middle‐East, he undergraduate studies he led an academic politics research program in Sichuan, China. developed a portfolio of over 120 clients and serviced the complex insurance requirements of wealthy individuals, families and corporate institutions over several years. Armel is an experienced sailor and has participated in several competitions, achieving podium positions in the J22 Middle‐East Championship and the Gulf Bénéteau Cup. He As an insurance broker, he advised individuals in investment portfolio management, wealth is also a First XV front‐row player at the Dubai Frogs Rugby Club, in the first division of preservation and the consolidation of families’ capital. With institutions, he advised on medical the Emirates League. insurance and group life policies acting for the Gulf offices of international and local companies in policies, pharmaceuticals, banking, shipping, construction and the petroleum industry. Besides English, Armel is fluent in French and Farsi. In 2007, Armel joined the Dubai team of Geneva‐based Union Bancaire Privée, one of the largest Swiss private banks in the world, with assets under management of CHF130bn, and the largest E: Armel.vanerck@zaggora.com global investor in hedge funds ‐ with upwards of USD45bn of client assets managed in that T: +971 (0)505045338 PO Box 211 210 particular investment class. F: +971 (0)44217866 Dubai, United Arab Emirates He advised clients across the Gulf and Iran in hedge funds, funds of funds, equity and fixed income trading, as well as the establishment of trusts and estate management. In this capacity Armel has created relationships with high‐net worth individuals with a particular focus on Iran, where the wealth management demands of private banking clients are very specific and challenging. 2010 11
  11. 11. Management Team Steven Faull,  Partner Steven.faull@zaggora.com Steven is a qualified Chartered Surveyor, Fellow of the Royal Institution of Chartered Surveyors At Donaldsons, he personally negotiated record rental levels for owners in eight (FRICS) and has a Master of Arts Degree from the University of Cambridge in Economics and Land separate transactions. Economy. Responsibilities extended to include all marketing, letting, sales and development Most recently he was Property Director of Consensus Business Group, owned by Vincent consultancy matters for new office buildings in London and the South‐East of England. Tchenguiz. As Head of the Interactive Property Management team of first Rotch Property Group and subsequently CBG, he was responsible for pro‐actively asset managing a portfolio worth over He has a wealth of experience in the entire spectrum of commercial property delivery, £4billion. from initial acquisition to maximising asset management opportunities in order to achieve optimum value and profitability. Significant transactions included the acquisition of the largest single office investment in the UK, the renegotiation of the lease of the principal tenant followed by the successful onward sale to E: Steven.faull@zaggora.com realise a substantial profit. Other deals included, the sale of two properties occupied by the British T: +44(0) 203 170 7020 No. 1 Grosvenor Crescent Home Office and the liability unwind of another major government portfolio. F: +44(0) 203 170 7021 London SW1X 7EF Previously, he was Head of Real Estate Consulting at Johnson Controls, a major international facilities management organisation, where he advised British Government bodies and major corporate on all aspects of their commercial property strategy and holdings. Steven began his professional property career at Debenham, Tewson and Chinnocks (now DTZ). He was subsequently head‐hunted by Donaldsons, a major firm of Chartered Surveyors and Property Consultants, to set up and run their new London office agency department, which advised developers, investors and leading companies. He was promoted to Partner in 1987. 2010 12
  12. 12. Management Team Andre Ghorchian Andrew Shakel MRICS Christopher Jones MRICS Property Investment Asset Management, Retail Asset Management, Office Andre is a highly dynamic, and active property investment Highly skilled property specialist with over 25 years in depth Chris is a well established property professional with extensive market agent with 10 years in depth experience in capital experience , driving and delivering successful solutions in experience in most sectors of the property industry, having markets, advising cross section of private and institutional retail development, leasing and investment markets, at specialist skills in commercial investment, valuation and landlord investors on disposals and acquisitions. Transactions strategic and transactional levels; including mixed use and tenant matters. completed to date exceed £500mn in UK and Europe. schemes and over 400 000 sq m of shopping centres. Prior to founding Jones Shackel Oldham in May 2009 he had been g y After graduating from the School of Surveying in 1996, His career has spanned extended periods with Hillier a consultant to Smith Melzack Pepper Angliss since the beginning Andre became a valuer working on statutory valuations for a Parker(now CBRE) Jones Lang Wootton (now JLL) and more on 2000, acting for institutions, property companies and primary Local Authority in London. In 2003, he joined SMPA as an recently, at director level, with niche practices of Keneth and secondary lenders, as well as being a partner of Lewis Doyle, investment agent and quickly became an associate director Peters; Sanderson Weatherall and SMPA. He has now primarily a valuation practice concentrating on Central London responsible for acquiring and managing commercial assets established a new advisory practice; Jones Shackel Oldham, commercial and residential property. for institutions, private property companies and high net Chartered Surveyors. His clients comprise an extensive range worth individuals. of developers investors property companies and occupiers developers, investors, occupiers, His career began in 1976 as a graduate surveyor with the Property g g y p y which amongst, others include: Services Agency in Manchester, before qualifying as a chartered Andre has specialised in the UK and the South East, with an surveyor in 1979 when working in the investment team at Jones excellent knowledge of the retail and office markets in Norwich Union (Aviva) Friends Provident Lang Wootton. He then joined Hillier Parker May and Rowden in particular. He has acquired and sold all asset classes for Grosvenor Developments Burton Property Trust 1980 in the principal roll of advising the Commission for the New clients as well as across markets and with different lot sizes Boots Properties London Transport Property Towns and the City of Bristol in the disposal of their property from £2 million to £120 million. Westfield British Waterways assets, before joining the niche practice of Thomas Deal and Defra Enterprise Inns Partners in 1985 as their investment partner. Since 1987 he has p He has a broad network of contacts with agencies, principal Waitrose Musto been the property executive to a public company, run a investors, valuers, auctioneers and surveyors across the UK. successful private property company and in 1995 was appointed He also has experience in structuring investments for by Royal Sun Alliance as general manager of Barnard Marcus investors and has built a property fund vehicle for retail Auctions to report on the viability of the then loss making investors focusing on the UK office market with the aim of business and return it to profit, which was achieved within one achieving long term growth. year. Before becoming a consultant to SMPA and a partner of Lewis Doyle he acted for a select number of private clients with y p property holdings, advising on sales, acquisitions and asset management of mixed portfolios of commercial and residential properties. 2010 13
  13. 13. Management Team Justin Oldham, Property Investment  Marcus Nurse, Financing A highly skilled real estate capital markets specialist with extensive experience of commercial Marcus is the co‐founder of Square Mile Commercial Finance Ltd an independent finance property investment and development projects on a nationwide basis and a specialised and detailed brokerage. Beginning his career in financial services some 15 years ago with Nationwide, knowledge of the City of London office market. the graduate programme provided an excellent grounding in the numerous areas making up the portfolio of services offered by the world’s largest building society. Justin has previously worked at Cushman & Wakefield where he was headhunted to join its global real estate advisory practice as a senior member of their City of London Capital Markets team. Experience and knowledge was gained in retail banking, corporate and commercial finance and treasury. In 1997 Marcus joined John Charcol, a private financial services His overall role was to provide first class strategic and transactional real estate advice to a diverse brokerage with an entrepreneurial spirit. The role involved advising clients on a wide range of international clients on the City of London real estate capital markets. Previously he variety of regulated investment, pension and savings products as well as mortgages. It worked at Knight Frank as an associate partner in the City office team working on disposals. Justin g p y g p was during this time, that Marcus began to focus on commercial and specialist finance has excellent contacts at firms including Catalyst Capital, Standard Life, Henderson, Kilmartin, advise. Westbrook, UBS, Scottish Widows, Milton Group, Devonshire Properties, GE Real Estate, LaSalle Investment Management, Lanebridge Fund Management. Savills head‐hunted Marcus in 1999, to set up a bespoke commercial and corporate finance advisory service, within the private finance division. This work involved working with clients from across the numerous departments of the Savills group; such as Leisure/Hotels, Country Homes and Commercial Agency. In 2002 Marcus co‐founded Square Mile Commercial Funding Ltd, advising and arranging finance for the property market, typically arranging debt in the region of c£400m pa. Types of funding arranged include investment, development, mezzanine, equity & joint venture and loan syndication for the larger transactions. Marcus’ work is driven by each individual relationship and sectors financed include commercial, residential, office, retail, leisure, industrial and healthcare. 2010 14
  14. 14. Professional Advisers Acquisition Legal Corporate Legal Tax  Accounting Real Estate 2010 15
  15. 15. Contacts Malcolm Bell Chris Hancock Khurshid Faizullaev Armel van Erck Managing Partner g g Senior Partner Senior Partner Partner Partner Malcolm.bell@zaggora.com Chris.hancock@zaggora.com Khurshid.faizullaev@zaggora.com Armel.vanerck@zaggora.com T: +44 (0) 203 170 7020 T: +44 (0) 203 170 7024 T: +44 (0) 203 170 7023 T: +971 (0)505045338 F: +44 (0) 203 170 7021 F: +44 (0) 203 170 7021 F: +44 (0) 203 170 7021 F +971 (0)44217866 Notice This memorandum was prepared by Zaggora LLP. This document is for information purposes only and should not be construed as a solicitation or offer, or recommendation to acquire or dispose of any investment in real estate assets or securities or any other transaction. Whilst all reasonable efforts have been made to obtain information from sources believed to be reliable, no representations are made that the information or opinions contained in this term sheet are accurate or reliable. Nothing in this document constitutes investment, legal, accounting or financial or other advice. Any investment decision should only be made after consultation of professional advisers. Zaggora LLP is not authorised or regulated by the Financial Services Authority and does not promote, give investment advice on or make arrangements in financial instruments. This presentation does not constitute an offer to invest. 2010 16

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