Barwood Capital, the Northampton-based regional real estate specialist, has appointed a new chief financial officer as it continues to strengthen its board in preparation for its next fund launches. It has also appointed an investment director and investment analyst as it continues its rapid growth.
Graham Wood, who joins the board as a director, is a qualified chartered accountant and real estate professional, having more than 18 years’ experience. He was previously chief investment officer at Criterion Capital Limited and prior to that, was a director with Ernst & Young in London.
Graham has been involved in a wide range of areas including finance, debt raising, lead M&A and joint venturing across all main property sectors. He has had a particular focus on commercial investment, build-to-rent residential and operational real estate businesses.
Graham will lead Barwood Capital’s business support function, including finance, business planning and analysis, compliance, legal, information technology and human resources.
Hugo Trower has joined as investment director working in its residential asset management and transactions team headed by Steve Chambers. Hugo was previously at Savills for six years where he was an associate development surveyor in its London-based strategic development team. There he provided advice to institutional and private clients with strategic development land holdings.
Guy Stevens has joined as an investment analyst. Alongside his day role, he has recently qualified as a Drone Pilot with PfCO permission from the CAA, which was funded by the company. Nicknamed ‘Fly-Guy’, he is able to use his drone piloting skills to take photos and video of the many projects on which Barwood Capital is involved and developing.
The latest board appointment follows the recent news that Jo Greenslade, Barwood Capital’s founder and managing director since January 2015, has handed over the day to day operations of the business to Hugh Elrington, who has been appointed managing director. Jo will now focus exclusively on her role as director of strategy and funding. Jo was Barwood Capital’s finance director prior to 2015 and following her appointment as managing director has, to date, continued to oversee the finance function.
Hugh Elrington, Barwood Capital’s managing director said: “Our business is at a very exciting point in its life, having created a fantastic platform to provide investors access to value in the UK regional property market. We are about to launch further funds and as such, have taken the opportunity to recruit an exceptional new board member in Graham plus expand our investment team with Hugo and Guy’s appointments. Graham’s impressive experience in our industry, his knowledge of finance, debt, development and structuring, will further strengthen Barwood Capital’s executive team and support delivery of the Company’s strategic objectives.”
Over the last four years, Barwood Capital’s assets under management have grown to some £275 million whilst the company has maintained strong double digit returns to its investors. In the last year, Barwood Capital has delivered a 16% IRR to investors in its 2012 Regional Property Growth Fund and its fourth growth fund, raised mainly in 2017, is now on track to invest in around £200 million of assets, including four development sites in joint venture with British Airways Pension Trustees Limited. The company is speculatively developing over 740,000 sq ft of warehouse space across five sites in Bedford, Bristol, Crawley and West Yorkshire, complimented with multi-let industrial, and care home portfolios, as well as a residential development.