Bell Capital Partners maintains a substantial investor network capable of providing senior debt, subordinated debt, preference shares, other forms of hybrid capital and equity to sponsors‘ transactions. Read on to learn more about the product types we can deliver to sponsors for their real estate financing requirements.
Senior Debt
Bell Capital Partners can source senior debt from its institutional investor network to either provide the whole of the senior debt requirement or complement the offering made by banks to any transaction. Terms and covenants would largely conform to banking standards and Loan to Value ratios above 50% and well into the 60s % range are achievable, depending on the specific risks of the asset involved. Maturities would generally be in the 5 to 15 years range. Amounts can be anywhere from £25m up to £300m equivalent or more, depending on the asset type.
Subordinated Capital
Bell Capital Partners can source subordinated debt or other forms of hybrid capital (preference shares, warrants, etc.) from its investor network to optimize the financing package for any asset. Terms and covenants would largely conform to banking standards and relatively high total Loan to Value ratios are achievable, depending on the specific risks of the asset involved. Maturities would be in the 3 to 7 years range. Amounts can be anywhere from £15m up to £200m equivalent or more, depending on the asset type. These instruments can be structured to fit the exact economic dynamics of a particular transaction, balancing current coupons with equity upside as necessary.
Equity
Bell Capital Partners can source majority, joint venture and minority equity from its investor network to assist sponsors in raising equity or managing the risk of the investment in a transaction. This equity can be either strategic or passive. Within our investor network, we have investors who can bring significant and specific hands-on expertise to a deal if the sponsor so wishes. Alternatively, we have many investors who prefer to be passive, purely financial equity investors. Amounts can be anywhere from £20m up to £500m equivalent or more, depending on the asset type. This equity can be structured in a variety of ways depending on the preferences for risk/return sharing among the parties. We can also source equity to assist sponsors with asset divestment programmes or equity recapitalisations of their real estate businesses in order to help fund future acquisitions.
