Long Harbour has appointed Richard MacDowel as Capital Solutions Director as part of the firm’s ongoing expansion in the build to rent (BtR) sector through its Multi Family Investment (LHMF) investment platform.
Richard joined Long Harbour from Lone Star-backed property company and BtR operator, Quintain.
In his role as Group Treasurer, he was responsible for delivering £1.4 bn of new debt facilities to support the ongoing delivery of over 10 million sq ft of mixed-use development around Wembley Stadium.
He previously worked at Lloyds Bank, initially in the impaired real estate loans team, and then subsequently as head of one of the real estate teams when he was instrumental in launching the £1 bn commercial real estate green lending programme in 2016.
In a newly created role at Long Harbour, he will be responsible for sourcing and leading all debt relationships in LHMF, driving efficiencies, and providing leadership and commercial insight across the LHMF investment and corporate finance activities.
He will also be monitoring the development of the green financing market and ensure funding activities are aligned with LHMF’s overall ESG strategy.
Richard MacDowel, Capital Solutions Director, Long Harbour, said: “Long Harbour has a long established, proven track record as a leading investor in the UK’s build-to-rent market, where there is significant momentum. This is a fantastic opportunity to join one of sector’s most prominent operators at a hugely exciting time and I’m looking forward to contributing to the company’s ongoing growth and success.”
William Astor, Chief Executive at Long Harbour, said: “We are thrilled to welcome Richard on board, his calibre and experience will undoubtedly prove invaluable to our growth strategy in the build-to-rent sector, sourcing external funding to meet the ambitious LHMF business plan. His deep understanding of the loan and capital markets will help us build and diversify our range of funding sources, ensuring optimal financing terms are achieved throughout the financial cycle.”
Long Harbour was an early entrant into the BtR space and has a proven track record in the sector. LHMF was established in 2013 to acquire, develop and manage residential homes and apartments for rent, providing full cycle in-house capabilities acting as investor, developer and operator on its projects.
Long Harbour is one of the leading Multi-Family fund managers in the UK residential market and has invested in over 3,000 apartments and houses in the UK and over £450m of assets.