European Real Estate
Key Features
The Real Estate strategies provide financing solutions to the European real estate sector, having executed more than €1 billion of deals across 35+ transactions. These range from senior debt to mezzanine and preferred structured equity. The Firm employs a solutions-oriented and relationship-driven approach to the middle market, underwriting transactions from €15 million in size.
Investment Strategy
- Middle market focused, where supply/demand imbalances persist and provide for a lender-friendly environment
- Active across the capital structure including senior, mezzanine, preferred and structured equity
- Investments collateralised by traditional and alternative asset classes including transitional and development opportunities
- European mandate including the United Kingdom, Western Europe, and CEE
Differentiated Approach
- Swift Execution - streamlined and efficient approval process to provide clients with the execution certainty they require
- Flexibility - investment across the capital structure, providing solutions to fit the issues at hand
- Complexity - willingness and capacity to digest complexity
- Focused Investment Thesis - focused on investment opportunities collateralised by commercial real estate
- Established Origination Network - leverages a diverse network to source the majority of investment opportunities on a direct basis
- Risk Management - Extensive risk management experience demonstrated throughout market cycles
Distinct Mandate and Extensive Experience
| Parameters | Opportunistic Strategy | Income Strategy |
|---|---|---|
| Investment Size | €15 - €50mm | €15 - €100mm |
| Target Products |
Whole Loans
Mezzanine Loans Preferred/Structured Equity Special Situations Capital |
Whole Loans
Mezzanine Loans |
| Loan to Value | No Limitations | 80% |
| Target Jurisdictions | Pan-European | Pan-European |
| Term | 1 to 5 years | 1 to 5 years |
| Asset Classes |
All Asset Classes
Operational Real Estate Developments |
All Asset Classes
Operational Real Estate Light Refurbishments |
| Illustrative Pricing | ≥ 10.0% | 5.0% - 9.0% |
Portfolio Managers
Imo Skrzypczyk
Portfolio Manager, European Real Estate
Imo joined Tyrus Capital in 2019 from Starz Real Estate. Prior to joining Starz, Imo worked for Tyndaris and Bank of America Merrill Lynch where he started his career in the EMEA real estate, gaming and lodging investment banking team and later moved to the European real estate structured finance group. He has wide experience in structuring and executing public and private real estate transactions across asset classes, jurisdictions and investment products including senior loans, mezzanine and preferred equity, loan-on-loans and securitisations. Imo holds a BSc in Business Administration from EBS University for Business and Law in Oestrich-Winkel, Germany.
Enrique Zouein
Portfolio Manager, European Real Estate
Enrique joined Tyrus Capital from Tyndaris. Prior to joining Tyndaris, Enrique worked for Kildare Partners and H.I.G. Capital as part of their distressed principal investments team, having started his career at Houlihan Lokey in their special situations group in Europe. He has extensive knowledge in structuring and executing real estate and corporate transactions across asset classes, jurisdictions and investment products including preferred equity, mezzanine and senior debt, NPLs, secondary loans and direct equity. Enrique holds a BSc in Business Administration from ICADE University in Madrid.
Selected Case Studies
