The range of funding options open to companies has exploded, resulting in a vast array of different capital and security structures. Before the 2007/8 credit crunch, it...
One of the features used to categorise loans is the number of lenders involved. A loan involving one lender is known as a 'bilateral loan'. A loan involving more than one...
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...
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...
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...
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...
Brexit BREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further...
Where land is held on a charitable trust, it can only be mortgaged in accordance with the provisions of Part 7 of the Charities Act 2011 (CA 2011). A failure to comply...
If a charity is proposing to: • mortgage property that it owns, or • acquire property with mortgage finance there are a number of issues that the charity trustees must...
If a charity is proposing to: • mortgage property that it owns, or • acquire property with mortgage finance there are a number of issues that a prospective mortgagee...
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...
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...
A property joint venture is an arrangement between two or more parties under which they combine disparate contributions in order to derive value from the development,...
This Practice Note provides an overview of a typical real estate finance (REF) transaction from the term sheet stage through to signing the financing documents, dealing...
Many of the features of a typical real estate finance investment facility will be applicable to real estate finance development transactions. For information on the key...
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...
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...
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...
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...
Intercreditor agreements are complicated and detailed arrangements between two or more sets of creditors, requiring careful consideration both in terms of the level of...
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...
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...
In both investment and development real estate finance transactions (REF transactions), lawyers will also play a key role in negotiating all the documentation. Real...
This Practice Note gives a brief outline of the types of borrowers that might wish to borrow money and relevant legislation. It looks at: • companies • limited liability...
Produced in partnership with Martin Shah of Simmons & Simmons LLP; material originally written by Charles Goddard of Rosetta Tax LLP The regime for UK real estate...
BREXIT: As of 31 January 2020, the UK is no longer an EU Member State, but has entered an implementation period during which it continues to be treated by the EU as a...