Castlemore contract is shape of things to come

摘要

Two weeks ago administrator PricewaterhouseCoopers and Jones Lang LaSalle Corporate Finance appointed Cordatus as asset manager to Castlemore Croup's UK-wide portfolio of 16 assets, against which H5BC is the principal lender (news, 26.03.10). This looks like the shape of things to come for bank-controlled property assets likely to benefit from active medium-term management.The model is reasonably straightforward - banks lack the resources to manage such assets through to realisation, but administrators, however, also lack certain key relevant skills. An experienced asset manager is therefore required to "optimise the outcome... over the medium term".