Ardent brings debt platform to UK

The Ardent Companies is expanding its US debt platform into the UK. The US-based real estate investment and asset management firm, which has lent more than $2bn in the US, is embarking on a multi-strand expansion into the UK, appointing former Urban Exposure partner Sunny Lakhtaria as UK head of debt. The new platform will target both fresh lending and debt buying across a range of structured options. The team will be actively looking across all commercial real estate sectors, but is expected to focus on residential development. Matt Shulman, Ardent chief executive and managing partner, said: “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.” At Urban Exposure, Lakhtaria was involved in around £1.5bn of direct real estate financing and capital raising initiatives, including its AIM listing and financing deals with KKR, UBS, Aviva Investors, LBG, Topland and LaSalle Investment Management. Ardent entered the UK market in 2021, buying the Touchwood shopping centre in Solihull, the Royal Exchange in the City of London and building a 2.25m sq ft national industrial and logistics portfolio. Richard Benson, UK managing director at Ardent, 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.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews