Real Estate Finance

Our Practice

Through our network in Europe, the Middle East and Asia, we advise on local and cross-border issues drawing on the skills of our leading real estate finance, real estate, regulatory, tax, securitisation, capital markets, corporate, funds and restructuring and insolvency specialists while maintaining one point of contact with you. We have the commitment, resources, experience and know how to get deals done, whatever and wherever they are.

We act for banks, borrowers, funds, mezzanine lenders, issuers, arrangers and rating agencies. We are a leading firm in the sector and thrive on complex matters, as we structure our business to ensure close partner attention on all our deals. Our real estate finance partners are recognised as leaders in the field and we operate on a local and cross-border basis in Europe, the Middle East and South East Asia.

Experience

  • advising Royal Bank of Canada on arranging and issuing 40-year listed and rated bond finance to enable the construction of more than 2000 beds at the University of Hertfordshire. This is thought to be the first bond in Europe which is both unwrapped and does not rely upon a guarantee of room bookings from the university
  • acting for the senior lenders financing the acquisition by Patrizia AG and Oaktree of a 85 acre mixed use site at Winnersh Triangle and the adjoining 100 Berkshire Place commercial office space
  • advising the lenders financing the acquisition of the landmark IBM Building, on London’s South Bank
  • advising the lenders on the financing of the development of a 71 apartment apart-hotel and two retail units at Bear Gardens, London
  • advising APG Strategic Real Estate Pool and GRIP Unit Trust on the formation of the GRIP Unit Trust, a fund established with Grainger plc, the UK’s largest residential property landlord, to acquire the residential property portfolio owned by G:res1 Limited and the refinancing of the residential portfolio arranged by Barclays and AXA
  • acting for a syndicate of banks in relation to a £133m facility to fund the acquisition of 99 Bishopsgate through a corporate acquisition of the existing property owning entities
  • advising BAWAG on the refinancing of the SoHo House, Berlin 
  • acting for M&G Investments (Prudential plc), the insurance lender, as senior debt provider financing Round Hill Capital's acquisition of the Nido student accommodation business from Blackstone - believed to be the largest real estate financing of 2012
  • advising a seller in connection with structuring and managing the sale of loan portfolios secured on investment and development properties in the UK, France, Italy and Spain
  • advising Avenue Capital Group on the successful acquisition of a portfolio of student accommodation from the administration of Opal Group.

Specialist Expertise

Investment

We have extensive experience in financing the acquisition and refinancing of all types of investment property from landmark buildings to large portfolios including office, retail (from single units to the largest regional shopping centres), leisure, distribution centres, industrial and business parks.

Development

We act for lenders, owners and developers on a wide range of development finance transactions from large scale transformational developments to refurbishment works. We understand how to identify and manage construction risk.

Hotels and leisure

We act for owners, operators and financiers in connection with secured and unsecured financings and securitisations, hotel and restaurant management arrangements, asset management, franchising, branding, regulatory advice and dispute resolution.

Healthcare

We are experienced across the healthcare sector including financing the acquisition and development of hospitals, psychiatric care units, nursing homes and village care using a number of financing techniques such as whole business securitisations, sale and leasebacks, PFI/PPP and leveraged buy outs.

Student accommodation

We have advised on some of the leading student accommodation projects including structuring and advising on equity investments, bond financing, development and investment facilities both on campus and off campus and involving leases and hard and soft nomination arrangements.

Real estate funds and debt funds

With our market leading Asset Management & Investment Funds practice we advise on the establishment of all forms of real estate funds (closed- and open-ended, corporate and partnership, onshore and offshore) and debt funds (including specialist tax and regulatory structuring) and related financings including, fund level equity bridge facilities and capital call facilities and asset level financings.

Corporate loans

We act for lenders and borrowers in the property sector in connection with their working capital and unsecured borrowing requirements.

Capital markets

We have extensive experience of acting for originating lenders, issuers, borrowers, rating agencies, loan servicers, special servicers, junior investors and swap counterparties in connection with the structuring, arrangement and restructuring of agency and conduit securitisations involving single assets and portfolios, the purchase, funding, repackaging and restructuring of B notes and other junior pieces in capital structures.

Islamic and Shariah structures

Our award-winning Islamic finance team advises on conventional and Shariah-compliant financial institutions, fund managers, financial advisors and corporates globally on all aspects of Islamic finance. With a deep understanding of Shariah principles and close relationships with many of the world’s leading Shariah scholars, we offer a leading capability in advanced Islamic product development and transaction management. We have expertise in the full range of modern and traditional Islamic finance contracts such as Sukuk, W’ad, Murabaha, Ijara, Mudaraba and Musharakah.

Distressed real estate

We regularly act for senior lenders, mezzanine lenders, swap counterparties, representative agents (such as bond trustees, facility agents, security trustees, loan servicers and special servicers) and insolvency office holders in connection with all aspects of the enforcement of security, from initial security review and development of strategy to the appointment of administrators and fixed charge receivers and subsequent disposal of the secured assets and advising on restructurings and work outs outside of a formal insolvency process.

Distressed and non-performing loan portfolios

We regularly act for sellers, purchasers and funders in connection with all aspects of trading distressed and non-performing loan portfolios and bonds including running and managing bidding processes and data rooms for sellers, due diligence for purchasers and their funders and structuring and executing the sale and purchase of single loans and portfolios and bonds.