INVESTMENT YEAR Q2 2020 | Sector REAL ESTATE | LOCATION LONDON, UK
Cavera is a 100% owned subsidiary of LMS established as a vehicle to work with a successful real estate development team. The team previously founded Voreda, a real estate management and development business that obtained planning consent for, and developed a substantial amount of land in West London for its partners.
LMS is committed to find Cavera’s operating costs to source opportunities which can be structured as a “Project SPV” investment proposal for LMS and co-investors.
Team – Chris Dancer and Steven Dykes, founders of Voreda, a successful real estate developer and investor, and well known to LMS for 20 years.
Voreda, in 10 years, delivered 160,000 sq. metres of planning consents developed over 90,000 sq. metres of projects with a development value in excess of £600m.
Projects included student accommodation, key worker housing, offices, hotel, specialist research space.
This is an opportunistic business model, which will seek to identify new partners and situations where the team’s skills can be applied.
Remaining nimble and adaptable in the market will be important for success.
Why is Cavera attractive to LMS?
The team has a track record of outstanding delivery for clients and for investors, is well known to LMS and is keen to work with LMS again. LMS’ financial commitment is initially simply to support the team identifying potential projects and requires no capital commitment.
The team will source opportunities which can be structured as a “Project SPV” into which LMS can invest and also bring investors from its co-invest platform.