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Real Estate Financing
We focus on debt and equity financing for real estate projects mainly in the UK and Europe (and selectively North America) within ground-up, value-add and stabilised debt refinancing.
Real Estate Subsectors Covered
Indicative Debt Financing Terms
Senior Debt
- Loan to Cost: Up to 85% of the total value
- Loan to Value: Up to 70%
- Tenor: Up to 5 years
- Margin (approx): 150 – 500bps
Bridge Loan
- Bridge Loans of 12 – 36 months
- Fast Options for Financing
- Acquisition Bridge Financing
Mezzanine Debt
- Loan to Cost: up to 85% of total value
- Loan to Value: up to 80%
- Sources: Credit funds, alternative lenders, family offices, international, national and regional banks
Generic Promote Structure:
Equity Financing
- Target unlevered equity IRRs: mid-teens (value-add) and 20% or better (post-permit ground-up)
- Equity financing via family offices and institutional investors
Family Office Connections
Our association with our sister company, Wimmer Family Office, allows us to access established networks in the family office and private capital sectors.
Financing Process
Stage 0- Initial due diligence and financial analysis of the proposed project including equity IRR calculations, debt servicing and covenants analysis
Engagement
- Signing of the Wimmer Financial Engagement Letter
Stage 1
- Preparation of the deal email, investor interactions, meetings, conference calls, signing NDAs, access to data room
Indicative Term Sheet
- Issuance, negotiation and signing of term sheet(s)
Stage 2
- Legal due diligence, technical due diligence, and issuance of the facility agreement
Closing
- Signing of the facility agreement and capital drawdown
Capital Deployment
- Equity and/or debt capital investment in the project
Sources Of Finance
