US-based real estate investment and asset management firm The Ardent Companies is to expand its US debt platform into the UK for the first time.
The company has recruited Sunny Lakhtaria (pictured) – a former partner at Urban Exposure – as UK head of debt to spearhead the platform’s growth.
Ardent’s new UK platform will target fresh lending and debt buying across a range of different structured options and the team will actively look across all commercial real estate sectors, with an anticipated focus on residential development.
The move into lending follows the launch of The Ardent Companies UK just over two years ago, which has already completed the acquisition of Touchwood shopping centre in Solihull, the purchase of The Royal Exchange in the City of London and it has also established a national industrial and logistics portfolio of more than 2.25m sq ft.
Richard Benson, managing director of The Ardent Companies UK, said: “Ardent’s lending activity is centred on using its investment expertise and structures to deliver financing facilities that meet borrowers’ needs, an approach that has generated considerable repeat business. With the appointment of Sunny, we have a proven operator from the highest tier who is perfectly placed to bring the same success to the UK team, and we look forward to establishing one of the market’s foremost lending and debt acquisition platforms.”
Matt Shulman, CEO and managing partner of The Ardent Companies, added: “Expanding our lending capabilities to the UK has been an aspiration since we entered the market over two years ago. This is another pillar of our growth in the UK and underlines our commitment following the success of the investments we have made here to date.”
Lakhtaria said: “I am delighted to join the team at this exciting time, and lead this growth and expansion of its debt portfolio. Ardent’s long record in real estate lending underlines its capabilities, and the extension of the platform into the UK will draw on this experience to deliver financing solutions that truly meet the challenges and opportunities in the market.”
