Close Brothers Property Finance has appointed Chiara Caldwell (pictured) to the newly created role of managing director of structured finance, to spearhead business growth across purpose built student accommodation (PBSA) and Build to Rent (BTR).
Close Brothers Property Finance, which is celebrating 50 years of development finance lending, recently saw its loan book grow to just under £2bn.
The appointment aims to strengthen the bank’s proposition as it diversifies into the fast-growing PBSA and BTR sectors, currently valued at £85.8bn and £35bn respectively.
Caldwell brings over 20 years of banking experience, most recently from global real estate advisor CBRE, where she was head of residential debt advisory.
Phil Hooper, chief executive officer of Close Brothers Property Finance, said: “I’m delighted that Chiara will be joining our business and helping us grow our exposure within these strongly performing asset classes.
“We have been lending to the development marketplace for 50 years and have a first-class, relationship-led proposition, so it feels like a natural evolution to diversify our lending offering.
“I am also pleased that she will bring some fresh perspectives around the leadership of the business, and I am happy to welcome her to the team”.
Caldwell added: “Both BTR and PBSA continue to flourish as asset classes in the UK, attracting large-scale institutional investment.
“While supply has been restricted over the last year, demand has continued to increase, pushing up rental growth and creating considerable sector growth potential in the coming year and beyond.
“Expanding into these markets will further strengthen the value proposition for borrowers.
“The relationship-led, personalised approach to lending employed by the excellent team at Close is a huge factor behind their continued success and I’m looking forward to helping the business continue its strong growth trajectory.”
