New management team at SACO migrates from Union Hanover Securities

09 October 2015 by
New management team at SACO migrates from Union Hanover Securities

A four-strong management team at the hospitality investment and development company Union Hanover Securities has jumped ship to SACO, the Serviced Apartment Company.

Headed by Eric Jafari, who will take up the role of SACO's managing director of development, the new team at the operator of 30,000 apartments worldwide will include Andrew Fowler (acquisitions director), Merzak Kaddour (head of development financing), and Charles Cresser (development director).

Jafari was previously managing director at Union Hanover Securities, which created the Urban Villa serviced apartment brand.

Founded in 1997 in Bristol, SACO currently operates 675 apartments in the UK, as well as being located in 220 destinations across 52 countries. The company, which is still based in Bristol, will open a new aparthotel with 77 apartments in Cannon Street, London, in early 2016, with further openings planned for later in the year in Edinburgh, Aberdeen and Glasgow.

Stephen Hanton, chief executive, commercial of SACO, said: "SACO is set for major growth over the next two years, with new properties opening across the UK, Ireland and mainland Europe, and the welcome arrival of the new team gives us the additional expert resources to sustain this fast pace of expansion."

Union Hanover Securities obtains finance to build £1b hotel portfolio >>Planning permission for £35m Edinburgh Urban Villa >>Dual hotel scheme in Olympic Village secures planning permission >>Oaktree and SACO to create £60m service apartment group >>

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