Real Estate Special Situations
Value-added Counsel Beyond Legal Experience
The Real Estate Special Situations Group offers a value-add service to many of our real estate investor, developer and financing clients in conjunction with providing legal services, advising such clients throughout the life-cycle of a direct property or real estate backed credit transaction. We bring our combined legal and corporate finance structuring experience to bear to help clients unlock complex, often cross-border transactions. Where appropriate we look to introduce off-market opportunities (whether real estate backed credit, single real estate assets or portfolios) on a pan-European basis to our legal services clients. We frequently assist such clients to structure and finance their deals and have a proven track record of helping our clients to secure competitive financing terms. Working with our colleagues in the transactional teams and other advisors as appropriate, we then prepare, advise on and negotiate the transaction documentation in order to manage the transaction to a successful close.
In the case of many cross-border transactions our mandate will include managing overseas legal counsel and other advisors. Many of our clients in Europe have preferred conveyancing law firms and find it most cost effective to engage them to carry out real estate due diligence. Alternatively we are happy to recommend real estate conveyancing lawyers based on our relationships with specialist or local firms.
Debt Advisory Services in conjunction with Legal Services
As part of the Real Estate Special Situations Group practice our team frequently assists our clients to secure competitive financing terms, whether senior, mezzanine, whole loan or structured finance, from real estate finance providers. Working with our clients we agree a financing strategy which may involve for example, hand-picking a select group of lenders to discretely approach for terms or running a competitive process in the market. We leverage our relationships with clearing banks, investment banks, alternative lenders and other institutional capital as appropriate for the particular opportunity.
Our clients find this service particularly useful if the management team wants to focus on other elements of the deal or if they are looking to expand their lender network beyond their existing relationship banks in the increasingly fragmented and specialized real estate financing market.
As this service is integral to our overall legal representation mandate, the nuances of the initial commercial negotiations or high-priority terms are not "lost in translation" when the financing heads of terms are turned into definitive transaction documentation. The team is involved in the financing process from agreeing the initial financing ask to draw down of funds.
Success Fee Structures
We seek to align ourselves with our clients through our fee structures where appropriate and often agree a success based fee approach with holistic fees for our services payable only on successful completion of the deal. In contrast to engaging a third part debt advisor, our clients can often therefore benefit not only from a seamless one-team approach to legal advice, documentation preparation and negotiation, financing, structuring and execution, but also lower overall advisors' costs.