Savills LPA Receivers appointed on portfolio of 45 UK wide assets

NM Rothschild, the originator and servicer of the Alburn Real Estate Capital 6 portfolio (REC 6), has confirmed the appointment of Julian Clarke, Kevin Mersh, Matthew Nagle and Neal Morrison of Savills as joint LPA Receivers of 45 assets throughout the UK.

In conjunction with this appointment, NM Rothschild has also appointed Simon Thomas and Shelley Bullman of Moorfields Corporate Recovery LLP as Administrators over the companies in the Alburn Group, which hold Scottish properties.

The LPA Receivers have confirmed that they will continue to asset manage the portfolio and conduct a comprehensive and strategic review of the properties with a view to forming a disposal strategy aimed at maximising returns at the appropriate time. There is no imminent proposal to sell any of the properties until an initial due diligence process is carried out by the LPA Receivers.

The REC 6 portfolio comprises 74% offices, 16% industrial and 10% retail with four properties in Scotland and one in Belfast. The balance of the properties is located in England and Wales.

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Moorfields is one of the UK's leading independent firms of restructuring and insolvency specialists. Our highly skilled teams include restructuring professionals and licensed insolvency practitioners who provide leadership, experience and high quality advice to companies and their stakeholders in financially distressed situations

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