Arrange Capital To Buy An Existing Partner Out Of A Joint Venture Development

We were approached by a private property company looking to arrange capital to buy an existing partner out of a joint venture development in the north of England. The asset comprised a bespoke retail & leisure scheme fully occupied by a mixture of institutional and private tenants on long leases. Our client was looking to leverage its position to acquire 100% of the property by raising finance against its share of the asset, including the development profit.

Duties involved:

• Working with the client to understand the opportunity in detail and drafting a detailed tenancy schedule with reversion projections.
• Drafting a financial model to evaluate the proposition and sourcing a desktop valuation
• Originating and negotiating a suitable mezzanine debt facility to execute acquisition
• Working with the client to select an appropriate banking partner and negotiate and structure a competitive loan agreement