Suk Dosanjh
Partner, Development Advisory
Development and monitoring advisory for operational real estate: fund and lender monitoring, technical due diligence, development appraisal, cost-to-complete and dilapidations.
UK CRE investment volumes rise 12% in Q1 2026UK company insolvencies remain near 30-year highs (Insolvency Service)London office take-up strongest since 2019Planning consents for 10+ home schemes at decade low, down 43.8% since 2016/17PBSA investment hits £3.2bn in 2025Consented living-sector sites trading at deepening premium as planning timelines lengthenBank of England holds base rate at 4.25%BTR pipeline reaches record 100,000 units under constructionGreen lending standards reshape UK real estate financeData centre development pipeline doubles year-on-yearUK CRE investment volumes rise 12% in Q1 2026UK company insolvencies remain near 30-year highs (Insolvency Service)London office take-up strongest since 2019Planning consents for 10+ home schemes at decade low, down 43.8% since 2016/17PBSA investment hits £3.2bn in 2025Consented living-sector sites trading at deepening premium as planning timelines lengthenBank of England holds base rate at 4.25%BTR pipeline reaches record 100,000 units under constructionGreen lending standards reshape UK real estate financeData centre development pipeline doubles year-on-year
Principal-side advisory · £15-80m per asset
Debt, turnaround and development advice for operational real estate.
The specialist desk funds, lenders and sponsors plug in on their side of the table.
The gap
Scale, without the niche capability.
Funds and large asset managers own the asset and the risk. They rarely carry the specialist capability in-house for the moments that actually move the number.
“The alternative is a big-five firm, where the senior name wins the pitch and an associate does the work.”
The partners
The partner you meet is the partner who does the work.
Marcus Emadi
Managing Partner, Debt Advisory
£15-80m debt for operational real estate: hospitality, care, SEN, offices, PBSA, BTR, retail and infrastructure. Bridging, stretched senior and mezzanine.
Charlotte Coates
Partner, Turnaround & Sub-Performing Assets
Real estate turnaround, workouts and loan sales. Formerly Co-head of Real Estate Workout EMEA at JLL, with £6bn+ of property and loan sales across 10 jurisdictions.
The value to a fund
Not just the assets you own. The ones you buy next.
Charlotte Coates works with lenders on their sub-performing loans. Sales of sub-performing assets to our fund clients run through Marcus Emadi's desk, and our specialist team can then turn them around.
- 01
Lenders
Sub-performing loans that lenders need to resolve, worked through by Charlotte Coates.
- 02
Your acquisition
Sales of sub-performing assets to our fund clients, run through Marcus Emadi's desk.
- 03
Reposition
Turnaround and development advice to stabilise the asset and lift NOI.
- 04
Refinance or exit
Debt advice to refinance or sell at the stabilised value.
Sales run through Marcus Emadi's desk, separate from the advisory work. In any sale we act for one side of the deal and manage the wall.
What we are, and what we are not
We are the desk.
Not the asset manager.
- 01We plug in on your side of the table, as part of your investment and advisory function.
- 02We come in for the defined situations where specialist advice adds real value, lift the number, and hand back.
- 03We do not take the management mandate or run the building.
Across the whole lifecycle
Most advisers own one arc. We work the whole cycle.
- 01
Originate
- 02
Structure
- 03
Develop
- 04
Operate
- 05
Recover
- 06
Dispose
One firm, on your side, at every point in the cycle.
Capital and recovery
Three partner-led practices.
Debt Advisory
Marcus Emadi, Managing Partner
Origination and structuring across the capital stack, £15 to 80m, and sales of sub-performing assets to our fund clients.
Visit the practiceTurnaround & Sub-Performing Assets
Charlotte Coates, Partner
Restructuring, workouts and the resolution of sub-performing loans, lender and sponsor side.
Visit the practiceDevelopment Advisory
Suk Dosanjh, Partner
Appraisal, monitoring and technical DD through the build.
Visit the practiceOperational value, delivered in-house
- 01
Opex reduction through procurement
Facilities and procurement run as an investment decision. Every pound off opex is NOI.
- 02
Golden-thread asset management
The information and compliance record kept complete, so the asset stays financeable and clean at exit.
- 03
Specialist insurance
Cover placed and monitored to expiry through our authorised broking partner.
Operational value, delivered in-house
Three services. Every practice stronger.
Debt Advisory
Turnaround & Sub-Performing Assets
Development Advisory
Higher NOI supports debt service cover and refinancing terms.
Cutting controllable cost is one of the fastest levers to stabilise an underperforming asset.
Facilities and procurement planned before completion, so the asset opens on a lean cost base.
A complete record keeps the asset financeable through the hold and speeds lender diligence.
A clean record makes a sub-performing loan or asset easier to diligence, price and sell.
The works and compliance record starts in the build and is handed over complete.
Loan cover for lenders and building cover for borrowers at the point of the transaction.
Cover reviewed and kept in force through the workout, monitored to expiry.
Latent defects and structural warranty on development and refurbishment.
Opex reduction
Debt Advisory
Higher NOI supports debt service cover and refinancing terms.
Turnaround & Sub-Performing Assets
Cutting controllable cost is one of the fastest levers to stabilise an underperforming asset.
Development Advisory
Facilities and procurement planned before completion, so the asset opens on a lean cost base.
Golden-thread
Debt Advisory
A complete record keeps the asset financeable through the hold and speeds lender diligence.
Turnaround & Sub-Performing Assets
A clean record makes a sub-performing loan or asset easier to diligence, price and sell.
Development Advisory
The works and compliance record starts in the build and is handed over complete.
Insurance
Debt Advisory
Loan cover for lenders and building cover for borrowers at the point of the transaction.
Turnaround & Sub-Performing Assets
Cover reviewed and kept in force through the workout, monitored to expiry.
Development Advisory
Latent defects and structural warranty on development and refurbishment.
Where we work
Portfolios of operational assets, each £15-80m
We work for funds and asset managers holding operational real estate across these sectors.
The pitch
The capability, without building the desk.
01
Who it is for
PE real estate funds and large asset managers who want the capability without building the desk, plus the lenders and sponsors we already act for.
02
What you get
The specialist desk on your side of the table for the assets you own, and a route to the sub-performing assets you buy next. Partner-led throughout.
03
How we act
One side of any given deal, and we manage the wall. Our advice is the course we genuinely believe is right, not the one that suits our own fees.
Lift NOI, reduce risk, and make the asset more financeable now and more saleable at exit.
Why the join is defensible
Everyone owns one slice. Nobody owns the join.
- 01No firm bundles capital, recovery, development and operational value, principal-side, at £15 to 80m.
- 02The integrated boutiques that try get absorbed by the big platforms. The independent mid-market seat is open.
- 03Principal, fund and lender direct. Not a broker channel.
- 04Partner-led and unconflicted. We act one side of any deal and manage the wall.
Insights & Opinions
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Trusted by Industry Leaders
On your side of the table
Bring us the situation. We will tell you straight what it needs.
- marcus@tp.finance
- Tel
- +44 (0)20 7813 0149
- Office
- 5 Garrick Street, London WC2E 9AR
