Commercial Development Finance

We can assist strong developers who have the track record, development expertise, depth and breadth of organisation, and integrity to see a transaction through.

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Accessing capital and properly structuring the component parts of the capital stack can make or break a real estate transaction. We can assist strong developers who have the track record, development expertise, depth and breadth of organisation, and integrity to see a transaction through. We pride ourselves on our ability to foster strong and lasting relationships with global counter-parties to produce superior results for each development and ensure exceptional future opportunities for both capital providers and clients.

Our mission is to deliver superior risk-adjusted returns to capital providers and joint venture investors and develop mutually beneficial and long-lasting relationships with lenders, investors and clients.

We create detailed financing proposals and credit presentations supported by a comprehensive market and financial analysis. Clients and capital sources rely upon our ability to appropriately structure the capital stack, accurately assess and define risk, and achieve optimal terms for all parties involved. Our capital sources are extensive and include opportunity funds, value-added funds, core funds, core-plus funds, pension funds, insurance companies, mezzanine lenders, offshore capital, regional, national and international banks, conduits, private money funds, and other providers of debt and equity.

We structure finance for office, retail, healthcare, industrial, or mixed use developments which are wholly or significantly pre-let and where the lease terms and tenant quality are acceptable in terms of obligation and covenant. Emphasis is placed on the project and management team employed to deliver it and as a result we are often able to achieve lending which is non-recourse. Funding is typically available for land acquisition, construction and professional fees on pre-let (or substantially pre-let) schemes, or where there is a committed pre-sale. Finance costs are often rolled up through the construction period to practical completion. So long as lease terms and tenant quality are acceptable, a high percentage of the resultant investment value for pre-let commercial developments can often be secured. We also structure development capital for hotel and resort assets globally which will benefit from a management contract with a strong covenant operator or a fully repairing and insuring lease. Dependent upon the covenant strength of the operator, loan to created value can be 90% on a carefully constructed lease, which, on a development, can be in excess of costs.

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