To help real estate investors contend with the increasingly complicated accounting and compliance work particular to real estate, Avignon Capital, a European firm, has rolled out a new in-house corporate accounting offering. The new service will cover many services with the inclusion of dividend resolutions, cash flow management, risk analysis and joint venture accounting, according to an announcement.
Avignon Capital Head of Corporate Accounting Darragh Comer said in the announcement, “During this critical moment of unprecedented business and economic challenges for investors, it is important to remember that good accounting can enhance the value of real estate portfolios and assets.” The firm, for its part, said the pandemic has brought about a new array of challenges to real estate investors.
Avignon said it will have the ability to offer an end-to-end offering to current customers that covers everything from the investment stage to accounting as well as reporting, which it can provide as a separate service to external investors, advisers and asset managers. Comer will spearhead the initiative.
Avignon Capital CEO Patrick Flaton said in the announcement, “The launch of our specialist corporate accounting business was part of our long-term strategy to expand our integrated services offering to our clients, with recent events accelerating the need for this service.”
In separate news, Henry Cheng Kar-Shun’s company seeks to make its inaugural rental residences at a development in Easton London per a report in March. Knight Dragon is working with Lincoln Property Company, which is based in Texas, and British real estate investor MGT to make 500 rental residences.
The Greenwich Peninsula development could end up having almost 17,500 homes across a 150 acre portion of land. As of a March report, Knight Dragon had made over 1,000 apartments to date along with an events facility, a school and a part of a public walkway planned by the architects of the High Line.
The building of the rental units will reportedly start later this year, as long as the project gets the go ahead as of the March report.