Two key hires for Grant’s Sandstone Group
Peter Grant’s property investment company Sandstone Group has announced two senior appointments as it expands its presence in the UK.
Paolo Alonzi becomes group finance director and chief operating officer, while Stuart Montgomery is appointed director of investment management.
They will have a particular focus on the Sandstone Residential REIT (real estate investment trust), raising funds in the UK and globally to invest in the residential property sector in prime university cities and towns across the UK.
Mr Alonzi, a qualified chartered accountant, is a prominent and established figure in the real estate and investment management industry. He spent more than 18 years at abrdn a real estate chief operating officer where, among other things, he was responsible for overseeing a number of REIT strategies.
As a member of the Board of the Association of Real Estate Funds, he has led many high-profile projects and was recently involved in the UK Government-led Productive Finance Working Group, working closely with the Bank of England, the FCA, HM Treasury and a number of senior stakeholders from across the Investment industry.
Mr Montgomery leads the investment management team providing asset management and advisory services to private clients, family offices and wealth managers.
Prior to joining Sandstone Group, he held a number of senior appointments in the property and investment sectors with a broad experience spanning structured finance, investment and asset management.
Founded by Peter Grant in 1997, Sandstone, formerly Grant Property, has invested in more than 3,000 ‘traditional’ residential properties in prime university cities and towns across the UK.
These investments, on behalf of investors in 40 countries, represent a gross asset value of around £1 billion.
Commenting on the new appointments, Mr Grant said: “Paolo and Stuart are highly respected individuals and bring an exceptional level of experience to the business.
“Both share Sandstone’s vision to deliver high value, tax-efficient, leveraged returns for clients and their appointments as directors will help deliver our strategic growth plans.”