Downing starts new venture with ex DWS CEO

Former DWS CEO has teamed up with Downing to build out its £1.6bn pipeline which includes the Square Gardens co-living scheme.

Jessica Hardman, Co-founder, Aboria Capital and Bay Downing, Executive Director, Downing | BTR News
Jessica Hardman, Co-founder, Aboria Capital and Bay Downing, Executive Director, Downing .

The former Head of European Portfolio Management and UK CEO of global investment manager DWS, Jessica Hardman, and developer Downing have launched a new real estate investment management company named Aboria Capital.

Headquartered in London, the company will initially focus on realising Downing’s £1.6bn pipeline, which includes ten new projects planned to start on site at locations across the UK in 2025 and 2026.

It includes Downing’s flagship co-living scheme – Square Gardens – in Manchester, a £400m project which will deliver over 2,500 beds on completion. Downing revealed the co-living scheme earlier this year followed, followed by unveiling the scheme’s range of amenities. Assets will seed the first stage of a multi-year growth plan for Aboria Capital.

Aboria Capital will leverage Downing’s 35-year development and operational track record, which has seen the company deliver over £3bn in real estate development across the UK.  

“We want to take advantage of the current dislocation in the market and the cyclical investment opportunities in front of us, which will produce long term generational value. We feel now is the right time to launch Aboria Capital, bringing together two hugely complementary skill sets in real estate and global investment management. We look forward to sharing more about our plans for this exciting venture in the near future.” 

Bay Downing, Executive Director, Downing

Recently appointed President of the British Property Federation (BPF), Jessica has over 20 years’ experience in global real estate investment management.

“Downing is recognised as a seasoned, high-quality living, operating and development business. The UK and European living sector continue to be the most favoured sector by international investors, especially where managers can offer the benefits of a vertically integrated value chain across both the investment and operational disciplines.”  

Jessica Hardman, Co-founder, Aboria Capital