Property Newcomer of the Year (sponsored by Cluttons): Crosstree Real Estate
Crosstree was launched in August 2011 by Nick Lyle, the former head of Blackstone’s UK property business, and Sean Arnold, former head of European transactions at Starwood Capital, with £500m of equity backing from one of the world’s richest men, Ernesto Bertarelli, the Swiss-Italian pharmaceuticals billionaire. Its first acquisition in December 2011 was Aviva Investors’ 1-3 Berkeley Street in Mayfair for around £155m. The block, also known as the Berkeley Complex, includes three principal elements: the 195-bedroom Holiday Inn London Mayfair, a 34,000 sq ft office building and five shops. Crosstree beat competition from Derwent London, Peninsula Hotels and Northwood Investors.
The judges said: Our winner tonight stood out from the others in what they have achieved in such a short timeframe, and are very innovative in what they do.
18 April 2013 | | Property Week