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Legal Advisory Services
Frixos N Kaimakamis
Frixos N Kaimakamis is finance director at the Atlas Property Group, a role that encompasses looking after the finances of the Group and its clients, the majority of which are not property professionals.
‘Clients require our assistance throughout the process, sourcing the correct property, managing the legal due diligence for the acquisition, rent collection, obtaining planning permissions, construction work, and so on,’ he explains to Spear’s.
Established in London more than 25 years ago as a small family business set up to manage its own portfolio, Atlas has since evolved into a one-stop property solution offering services including acquisition and investment advice, asset management, planning and project management, lettings, rent collection and day-to-day management.
Today, the range of properties managed by the firm is ‘diverse’ and covers all parts of the asset management cycle, Kaimakamis says. As such, he notes, it is important that the right lender is paired up with the right property, depending on whether the acquisition will be for straightforward investment, development, or a combination of the two.
Kaimakamis today oversees ‘in excess of’ £200 million of bank debt across the firm’s clients. ‘My job is to help our clients source the debt from banks we have relationships with, ensure that this debt is serviced on time and report regularly to the various lenders,’ he says. ‘Our track record with all the banks we work with is excellent and this helps whenever we approach them for a new lending opportunity.’
Indeed, Kaimakamis tells Spear’s that there are ‘countless’ examples where borrowing for a new acquisition had to be achieved within a few weeks of an offer being accepted. ‘It helps to have as wide a network of lenders as possible to be able to meet this challenge and perform for our clients,’ he notes.
The firm’s ability to achieve results is grounded in its purpose to care for its clients’ property ‘as if it were our own’, he adds: ‘We would never advise our clients to do anything with their property which we would not do for our own.’
While 2020 has undoubtedly been a challenging year for the sector at large, Atlas was successful in selling a prime commercial office building in Clerkenwell in July 2020 for £15.6 million, Kaimakamis reports.
‘The sale price was significantly higher than what we would have expected to achieve pre-Covid, and illustrates the resilience of prime central London property,’ Kaimakamis reports.
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