Lloyds Banking Group has hired former ING Bank real estate finance director Lee McDowell as a senior director responsible for UK loan origination in its corporate real estate division.
McDowell, who started this week and will report into Lloyds’ head of corporate real estate Barry Fowler, will focus on UK senior debt origination for core, value added and opportunistic funds, including private equity funds and family offices.
McDowell joins Lloyds after four years at ING, where he latterly was head of real estate structured products working across the bank’s non-core restructuring positions as well as new lending.
At ING, McDowell was closed the bank’s €130m participation in a €400m bridge finance revolving debt facility for Goodman Group’s €1.6bn European Logistics Fund (GELF), alongside Royal Bank of Scotland and BNP Paribas.
In March 2013, the bridge RCF migrated into a corporate bon in line with Goodman’s debt diversification strategy.
McDowell also led ING’s effort in the loan purchase of the partly securitised €1bn Project Vermeer ELoC 29 Morgan Stanley transaction, alongside joint venture Fortress Investment Group. ING held around €350m of the nominally valued class A notes in the securitised component of the 64-strong secondary quality Continental office portfolio.
Prior to ING, McDowell spent three years in Macquarie’s real estate debt structuring team which was preceded by three years with Barclays Capital’s real estate finance team.