London-based property development lender Iron Bridge Finance has acquired a majority interest in Orlandis Capital, a real estate JV equity provider.
The Orlandis management team, led by Andrew Chrysostomou, will retain a shareholding position. The acquistion follows a management buy-out of the company lead by Chrysostomou from Christian Candy’s CPC Group.
Orlandis provides equity funding to the developer market and has invested over £125m in the last 24 months across projects comprising over 2,500 residential units.
Based in Primrose Hill, London NW1, Iron Bridge has been investing its own funds since 2007 to finance residential and mixed use development projects behind its senior debt partners, becoming one of the market leaders in mezzanine finance.
Lance Joseph (pictured, left), Iron Bridge’s CEO, said: “This is a signal moment for both Iron Bridge and Orlandis. Being able to offer both equity and mezzanine, and where appropriate a hybrid of both, is great news for developers.
“This acquisition is a natural evolution for our business and comes at a time when there is increasing demand for flexible, well-funded solutions behind senior debt.”
Andrew Chrysostomou (pictured, right), Orlandis’ managing director, added: “In Lance and the team at Iron Bridge Finance, we are joining the best in the industry. The offering of equity and mezzanine is a winning proposition for our collective customer base and we are well positioned to fill this finance gap.”