North West property stalwart launches new development and investment vehicle
David Lathwood, an established advisor in the North West real estate market, is launching a new development and investment vehicle.
Pitalia Real Estate is being backed by local entrepreneur Anil Pitalia and has allocated funds to acquire mid to large assets across a range of sectors.
The fund, part of the Pitalia group of companies, will be targeting acquisitions nationally and working to identify assets that it can invest in to create ‘best in class’ sustainable buildings.
After more than 35 years in the market heading up some of the largest advisory businesses in the sector, Lathwood left JLL in January 2020.
Having spent much of the past year on private client work, he has re-entered the market in a ‘client side’ role for the first time.
He said: “Pitalia Real Estate intends to be extremely active in the market over the next few years.
“We are well resourced and funded with a streamlined and focused vision.
“Both myself and Anil see the market through the same lens and we both feel that the timing is right for Pitalia Real Estate to be well received by the market.
“We will be flexible in our approach, not blinkered by sector preferences, and we will take meaningful risks to create value.
“Above all, we want assets that we buy and develop to be regarded as ‘best in class’.”
He added: “Since the 1980s, I have enjoyed great relationships in the market and I’m looking forward to renewing old friendships.
“We already have evolving partnerships with people that we have known for a very long time, who’s judgment we trust and who’s friendship we value. We hope to develop new relationships with like-minded partners over the coming months.
“It’s been a long time since I’ve felt this enthused about the property business.”