A growing number of lenders are looking for clients to deleverage and cut their overall levels of debt, in the run-up to a substantial wave of property refinancing, due in 2013/14, a leading commercial property adviser warned today. Mark Donnelly, who has recently joined Colliers International’s Real Estate Corporate Restructuring team in Scotland, expects the current challenges to remain across many areas of the commercial property market outside London for the foreseeable future.
Previously with GVA Grimley, Mark, a chartered surveyor, joins Colliers International’s UK-wide Real Estate Corporate Restructuring team. He will be providing strategic and disposal advice to major property lenders and insolvency practitioners on non-performing loans and facility covenant breaches, in cases where property forms part of the security.
Bob Fisher, head of Colliers International in Scotland, said: “We are committed to building our corporate recovery capabilities in Scotland. Mark has a real depth of understanding and track record of working on behalf of lending banks and insolvency practitioners. He is well placed to enhance Colliers International’s reputation as a leading provider of corporate restructuring solutions and further expand our services to clients.”