The Lehman Brothers’ collapse scattered specialists around the London property market. Jim Blakemore, former head of European property for Lehman Brothers, and one of the fathers of commercial-backed mortgage securitisations, found a new roost in 2010 with former Morgan Stanley head of real estate investment John Carrafiel at Greenoak Real Estate.
Blakemore founded and led Lehman Brothers European CMBS and Commercial Mortgage Lending Business from 2000 to 2004, before becoming European head of Lehman Brothers Global Real Estate Group from 2004 to 2008.
Today GreenOak has taken root, recently paying around £18.5m for Dixon House, Fenchurch Street, EC3, and is behind the consortium backing the £500m regeneration of the Whitechapel Estate, E1.
Jasie Leekha also landed at GreenOak. The former Bear Stearns analyst and Lehmans real estate director from 2004 to 2008 has been involved in restructuring the mighty Lehmans portfolio.
GreenOak’s third Lehman refugee is Chris Taylor, now a senior adviser at the Sloane Terrace business, but previously managing director in Lehman Brothers’ Global Real Estate Group. At Lehmans he was responsible for originating and underwriting European senior and mezzanine loans. GreenOak’s trio declined to comment.
Former Jones Lang LaSalle man James Jakeman was an executive director with Lehmans’ real estate principal investments team from 2000 to 2008, handling investments worth €2bn.
He left Lehman shortly before the collapse and went to Aurum Real Estate. In 2011 Jakeman was recruited by Société Générale Corporate & Investment Banking as managing director and head of UK lending as the French giant prepared to beef up its London property loan book. He began his career in 1995 at Jones Lang LaSalle, where he qualified as a chartered surveyor.
However, six months later, under pressure from European banking regulators, SocGen suspended property lending. Jakeman was recruited in March 2012 by real estate specialists Benson Elliot Capital Management. He declined to talk to EG.
See also:
• The Lehman’s Collapse: Five years on
• Peter Bill: Where were you when Lehman’s collapsed?
• The day Wall Street collapsed: Views from New York and London
