Investment finance

Investment finance guidance:

Flexible loan structures Following the financial crisis, the real estate finance market saw a retreat of conventional bank lending and an influx of non-bank lenders...

Practice Note

The law as set out in this Practice Note may be affected by Brexit. For further details of its impact, see Practice Note: Brexit—impact on corporate joint ventures....

Practice Note

What are the key features of real estate finance? This Practice Note focuses on what is thought of as traditional real estate finance ie lending against the cash flow...

Practice Note

Islamic real estate finance is becoming increasingly mainstream. The purpose of this Practice Note is to explore in some detail the main Islamic real estate finance...

Practice Note

Introduction Many significant and valuable UK buildings are held in Jersey Property Unit Trusts (JPUTs), sometimes referred to as Jersey Unit Trusts. This practice note...

Practice Note

The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced in 2008. It created...

Practice Note

Property derivatives A derivative is a financial contract that gives an investor a return based on the performance of an underlying asset. In essence, the contract...

Practice Note

Structure This Practice Note assumes that the funder is only providing funding to the JV (ie a loan of cash where the loan will be repaid with interest), but if the...

Practice Note

What is an equity-sharing lease? An ‘equity-sharing’ lease is a structure which can be used as a mechanism for joint venture investment in property. In the 1970s and...

Practice Note

Participating and convertible mortgages are examples of so-called ‘hybrid debt’ investments, which have both equity and debt features. They are joint venture arrangements...

Practice Note

Many of the usual conditions precedent (CPs) for a typical syndicated loan facility will also be applicable to a real estate finance transaction. For information on those...

Practice Note

Many of the usual covenants for a typical syndicated loan facility will also be applicable to a real estate investment finance transaction. For information on those...

Practice Note

Real estate finance investment facilities involve a loan to a borrower for it to purchase a property or a group of properties (or to refinance such a purchase). The...

Practice Note

Many of the usual representations and warranties for a typical syndicated loan facility will also be applicable to a real estate finance transaction. For information on...

Practice Note

High-profile London real estate deals such as development finance for The Shard, the Olympic Village, the Battersea Power Station regeneration and the redevelopment of...

Practice Note

Why sell and lease back? Release capital A sale and leaseback transaction allows an owner of real estate to unlock capital. In its most basic form the transaction is a...

Practice Note

What is a sale and leaseback? At its most basic level a sale and leaseback transaction involves the sale by an entity of some or all of its real property in return for a...

Practice Note

It is becoming more common for large real estate transactions to have corporate aspects to them. For example, the property being purchased may be held in a company, unit...

Practice Note

Produced in partnership with Martin Shah of Simmons & Simmons LLP; material originally written by Charles Goddard of Rosetta Tax LLP This Practice Note examines the tax...

Practice Note