Consulco Group was founded 30 years ago and today maintains offices in London, Dubai, Nicosia and Limassol
Consulco, through London Credit, the Group's London-based financing company, has been successfully providing short- and medium-term loans secured by real estate in London for the past 12 years. In a statement, Consulco CEO Marios Hatziroussos expressed his satisfaction with London Credit's performance: “We are delighted to announce that we have finally broken the £200m lending barrier – a very significant milestone – and that we are currently expanding our team in London to facilitate further growth.”
About two years ago, Consulco launched its first Alternative Investment Fund, the London Credit Fund, focusing primarily on lending against residential property in London. Supervised by the Cyprus Securities and Exchange Commission, the fund offers returns consistently in excess of 4% per annum for Euro investors and 5% per annum for Sterling and Dollar investors.
Many of the leading provident funds, insurance companies and high net worth families have invested more than 40 million Euros in the Fund in the last two years. “Our clients enjoy the stable income of the London Credit Fund by securing UK real estate, especially in the current global environment of high volatility of capital markets and economic uncertainty,” commented Michalis Tannoousis, Director of Investment Services at Consulco.
Consulco has created the new alternative investment in the existing investment fund, this time focusing on lending secured by commercial real estate in central London. This new segment is expected to offer returns of between 5-7% per annum for Euro investors and 6-8% per annum for Sterling and Dollar investors. Its investors will benefit from a fixed income, payable quarterly, secured against UK property, while enjoying sufficient investment liquidity, as they will be able to exit at six months' notice.
“Having full knowledge of both UK mezzanine and commercial real estate, we secure high quality loans secured by UK commercial real estate for the benefit of our investors,” said Marios Theofanous, Credit Manager at Mesa in English London Credit.
As with the existing arm, the new arm will be managed by KPMG, providing fortnightly unit rates, while Eurobank will act as fund custodian. The fund continues to be managed by Consulco Capital, a licensed investment manager supervised by the Cyprus Securities and Exchange Commission.
For more information on Consulco's latest developments and investment opportunities, register for the upcoming webinar here.
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