Selina is a highly experienced banker who most latterly was Head of Debt for the Commercial Real Estate team at Lloyds Banking Group. She has also worked at Europa Capital, where she was Head of Lending responsible for the set up their Mezzanine Debt Fund, and NAMA, where she was responsible for restructuring, loan sales and management of complex NPLs. Prior to these roles she also worked in the CRE Senior Debt origination and structuring teams at Capmark and Rothschild.
Selina’s recruitment is a response to the increasing amount of work that Ellandi is doing opposite banks and alternative lenders. The challenges faced by the retail sector, prior to and during Covid, have required that lenders look at retail as a specialist operating asset class. Ellandi’s unique DNA with a specialist focus on retail real estate and a strong track record in distressed debt investing and workout make it uniquely positioned to offer insight and solutions to lenders.
Ellandi has completed 22 projects relating to distressed assets or loans opposite 30 different lenders. Over the past 12 months it has advised 11 lenders on 6 assets, providing independent strategic reviews and / or asset management services. It has also successfully won a large NPL portfolio in conjunction with its equity partners.
“We see an opportunity to acquire further loans, to recapitalise projects and to advise lenders on recovery strategies. Positively we are also seeing new lenders entering the market and we are busily assisting them in underwriting complex retail assets, where a red book valuation is no longer sufficient to fully evaluate the operating risk of their security.” says Morgan Garfield, Ellandi’s Co-founder.
Selina Dicker, Head of Debt at Ellandi added “This is a very exciting time to join Ellandi. Ellandi has a unique combination of skills that add significant value to lenders and NPL investors, with hands-on retail expertise, strong occupier relationships and a dedicated Research & Analytics team. I know from my experience in real estate finance that this knowledge can be invaluable to lenders and investors underwriting, whether this is related to new loans, restructuring existing debts, formulating recovery strategies, or selling loans. I look forward to growing this exciting part of Ellandi’s business. The value of specialist expertise in this area for lenders has never been greater”.