Wells Fargo & Co. has announced the expansion of its commercial real estate capabilities in the U.K.
According to the company, the London office will provide Wells Fargo's U.S.-based clients and key U.K. real estate companies with a platform of financial services and solutions, including a wide-ranging set of real estate debt products; dedicated expertise in real estate investment trusts, hospitality finance, portfolio acquisitions and financings; and, through Eastdil Secured, a Wells Fargo company, a full range of asset sale, debt placement and advisory services.
Mike Marino, a 24-year commercial real estate veteran who formerly led the bank's Commercial Real Estate Institutional Metro Markets Group in Southern California, will relocate to London in early February to head the U.K. commercial real estate office; Jimmy Gray, who was formerly leading the office, will now assume the position of senior credit officer in the U.K.
‘With the current void in capital providers in the U.K. commercial real estate market, we see a tremendous opportunity to support our clients doing business in the U.K. and to expand the delivery of these services to both U.S.- and U.K.-based real estate companies,’ says Chip Fedalen, head of Wells Fargo's Commercial Real Estate's Institutional and Metro Markets Group. ‘Our relationship focus, coupled with our comprehensive real estate platform, makes Wells Fargo uniquely suited to deliver a full set of financial services and solutions to our clients and to help them succeed financially.’