We have unparalleled expertise and experience in European real estate debt restructuring and workouts. We established the largest European franchise in this sector in recent years having advised on more than €25bn of transactions on behalf of both borrowers/sponsors and creditors.

SERVICES

  • Debt Restructurings: Loans | Capital Markets
  • Debt Buy-Backs | DPOs | Bond Tender Offers
  • Recapitalisation: New Debt | New Equity
  • Portfolio Reviews to Determine Optimum Strategies
  • Lender and Investor Relations and Consent Solicitation

EXPERTISE

Established the largest European real estate debt restructuring franchise post the global financial crisis having successfully advised on some of the most complex and high-profile restructurings in Europe, totalling c.€25 billion of debt. Advised government agencies (FMS-Wertmanagement, NAMA), numerous financial institutions (Barclays, Morgan Stanley, Credit Suisse and NM Rothschild) and the vast majority of all European commercial loan servicers.

One of the few firms that specialises solely on real estate based transactions and truly understands this asset class. Experience across a broad range of property types (including retail, office, residential, healthcare and mixed-use sectors) and operating businesses across Europe.

Deep and sophisticated knowledge of the debt markets built up over the last 25 years, both as principals and as advisors, provides significant knowledge of underlying debt structures. Expertise across loans and capital markets transactions and both real estate finance and leveraged finance.

Expertise and successful approach is acknowledged by the many awards we have won over the years both as “Restructuring and Workout Advisor” and for restructuring “Deal of the Year” awards.

PROCESS AND VALUE ADD

Built our reputation as a “trusted advisor” capable of representing both debt and equity interests and delivering bespoke innovative solutions for both creditors and equity sponsors.

“Brookland approach” to negotiations has helped to unlock difficult or deadlocked situations with a variety of stakeholder types. Proven ability to deliver consensual solutions in aggressive and charged environments.

Strong understanding of the key drivers that determine the commercial position of stakeholders. This combined with our ability to understand complex structures and legal documentation and our strong financial analytical capabilities allows us to take a holistic approach in providing solutions on the most complex of cases.

Hands-on approach on all aspects of the transaction including due diligence, structuring and documentation. Highly pro-active at foreseeing and managing potential issues to provide a high degree of certainty of execution. We project manage and drive all aspects of the transaction from start to finish and help to manage both internal client teams and external advisors, service providers and transaction counterparties.

Results - Sample Transactions

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2011
£250 m
Listed Property Fund
 Consent solicitation agent for various transaction amendments 
Consent Solicitation
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2011
€110 m
Multifamily
Restructuring of debt secured by multifamily portfolio
Borrower Restructuring
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2012
€113 m
Mixed-Use
DPO of senior and junior debt secured by a mixed-use asset
Buy-Side Advisory (DPO)
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2011
£435 m
Landmark City of London Office
 Restructuring of debt secured on  Planation Place 
Borrower Restructuring
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2011
£188 m
Mixed-Use Portfolio
Tender offer in relation to buy-back of CMBS notes
Tender Offer Notes
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2013
£384 m
Mixed-Use
Restructuring of debt secured by UK mixed portfolio
Borrower Restructuring
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2011
€120 m
Offices
DPO of loans secured on offices
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2012
€32 m
Regional Offices
Restructuring and DPO
Buy-Side Advisory (DPO)
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2010
CHF 5.5m
Mixed-Use
DPO of junior debt secured by a mixed-use asset
Buy-Side Advisory (DPO)