iSec evolves with new strategy and rebrand as ALMCOR
15 March 2022
PRESS RELEASE
CEO Jonathan Whittingham looking to widen from industrials into retail, strategic land and first mile logistics as part of diversification and growth
Leading real estate investment and asset management business iSec has rebranded as ALMCOR as it launches a new strategy for diversification and growth.
CEO Jonathan Whittingham is evolving the business from its traditional strengths in the European industrial sector into new asset classes targeting opportunities where its proven expertise can leverage value and returns. ALMCOR is creating thematic investment platforms with scale across logistics, strategic land and retail.
In support of the refreshed strategy, the business has invested in senior hires and recruited Rupert Wood as Head of Strategic Land, Graham Stark as Development Director, Peter McCluskey as Head of Active Value and Watkin Samuel as COO.
Rupert Wood, previously a Director at St Modwen, will lead ALMCOR’s expansion of its strategic land activity. In January 2022, Rupert led the ALMCOR team in its JV with St Francis Group to sell 80 acres of its Horizon 29 warehouse and logistics development to BentallGreenOak.
As part of a more expansive approach to strategic land, the business adopts the role of “Master Developer” , in addition to its previous promoter role, as it moves to take on responsibility for its projects from conception through to implementation.
In this respect, Graham Stark joins ALMCOR from Lendlease where he worked on its Silvertown Quays regeneration project and, prior to that, was development director for Imperial College on its White City Campus. Graham is heading up ALMCOR’s Thames Enterprise Park major regeneration project in Thurrock, regenerating a former oil refinery into a new commercial and economic centre for specialised sustainable industries as a critical part of the Thames Freeport initiative.
Peter McCluskey leads ALMCOR’s Active Value Investment strategy in retail and First Mile logistics and is also responsible for streamlining ALMCOR’s asset management function.
Watkin Samuel leads the business’ platform restructuring in order to ensure best in practice compliance and reporting standards to facilitate effective investment partnering.
Jonathan Whittingham, CEO at ALMCOR, said: “Our new strategy, our investment in senior management and our re-brand to ALMCOR are all part of our revised approach to doing business and to creating value through our real estate activities. Across industrials and logistics, retail, and strategic land we are investing with intent and bringing forward high-value opportunities in partnership with our core institutional partners. We want to do more and are looking for the right opportunities.”
The new strategy defines ALMCOR’s corporate objective as being to identify opportunistic real estate investments, to develop creative strategies for adding value, and to effectively execute those strategies to generate exceptional capital returns while providing consistent, stable cash flow.
ALMCOR is part of MARCOL, a pan-European operating investor driving growth, value and innovation. MARCOL specialises in real estate and private equity, with a focus on healthcare services, technology and operational real estate companies.
The firm retains much of the ‘MARCOL DNA’ upon which its historical success is based and will continue to benefit from the international reach and capability that MARCOL provides.