Isle of Man-based structured finance group Captima has acquired Doherty Baines’ build-to-rent (BTR) consultancy Grafton Residential and re-launched the business as a 50/50 joint venture named Cap Real Estate.
Captima will hold a 50% share alongside Cap Real Estate’s three founding partners including the former head of Doherty Baines’ alternative capital markets team, Rob Nelson. Nelson has teamed up with former Grafton director Niall Crowley and Will Jeens, former deputy head of real estate advisory at Grant Thornton, to launch the new London-based consultancy.
Mark Watson, director of Captima, said further appointments would “follow shortly” after completing a deal that “adds significant impetus to [Captima’s] expansion and long term strategy”.
Nelson said he was “very excited to be working with Captima” and that the new consultancy would focus on site origination, acquisition support, planning design optimisation, development funding and exit planning across BTR and other alternative sectors.
He added: “There is a significant amount of capital chasing opportunities and with our depth of knowledge and track record over the past five years, we are well placed to advise developers and investors alike. I wish my former colleagues at Doherty Baines all the best going forward. They have a strong presence in their core sectors and I’m sure there will be opportunities to work together in the future”.
Doherty Baines said the sale was to allow the business to focus on acting as a specialist business space advisor.
Vincent Taylor, executive director at Doherty Baines, said: “We wish Rob and Niall well with their new venture and look forward to working with them in the future”.