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 Restructuring & Workouts: Loans | Capital Markets
  • Consensual | Non-Consensual
  • Represent Lenders, Fixed Income Investors, Creditor Committees, Servicers, Issuers & Trustees
  • Debt Portfolio Risk Assessments “Red Flags” & Reviews
  • Recovery & Workout Scenario Analysis to Determine Optimum Strategies
  • Review of Turn-Around Plans, Business Plans and Asset Management Plans
  • Interest Rate Hedging Reviews | Asset Manager Reviews

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

flag
2013
€2.1 bn
Multifamily Portfolio
Restructuring of debt secured by multifamily portfolio
Creditor Restructuring
flag
2011
€569 m
Commercial Portfolio
Restructuring of debt secured by 49 assets (various uses)
Creditor Restructuring
flag
2010
£535 m
Hotel Portfolio
Restructuring of debt secured by a portfolio of 61 hotels
Creditor Restructuring
flag
2017/2016
£160 m
Care Homes
Restructuring of debt secured by 74 care homes
Creditor Restructuring
flag
2013
€112 m
IBM HQ Madrid
Restructuring of debt secured by the IBM HQ in Madrid
Creditor Restructuring
flag
2012
£188 m
Commercial Portfolio
Restructuring of debt secured by 45 properties (various uses)
Creditor Restructuring
flag
2012
€1.2 bn
Department Stores
Restructuring of debt secured by 109 Karstadt stores
Creditor Restructuring
flag
2012
€760 m
Multifamily
Restructuring of debt secured by multifamily portfolio
Creditor Restructuring
flag
2013
€112 m
Office
Restructuring of debt secured by a portfolio of offices
Creditor Restructuring
flag
2012
£535 m
Landmark City of London Office
Restructuring of debt secured by the Citypoint tower
Creditor Restructuring
flag
2011
€935 m
Multifamily
Restructuring of debt secured by multifamily portfolio
Creditor Restructuring
flag
2012
€4.3 bn
Multifamily
Largest ever European CRE debt restructuring GRAND
Creditor Restructuring
flag
2012/2010
£725 m
Nursing Homes
Restructuring of debt secured by c.550 nursing homes
Creditor Restructuring
flag
2012
€983 m
Office Portfolio
Restructuring of debt secured by an office portfolio
Creditor Restructuring
flag
2013
€1.3 bn
Mixed-Use
Restructuring of CMBS secured by a German NPL portfolio
Creditor Restructuring
flag
2018/2015
£2.2 bn / £1.6 bn
Private Hospital Portfolio
Restructuring of debt secured by 35 private hospitals
Creditor Restructuring