Real Estate Corporate Finance
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Real Estate Corporate Finance
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TheBeNeRealEstateCorporateFinanceteamisaspecialistteamwithinEYRealEstateAdvisoryServices(REAS)providingcorporatefinanceleadadvisoryservicesinrealestaterelatedissues.
EYREASprovidesservicessuchasstrategicrealestateadvice,realestatevaluation&businessmodelingandcorporaterealestatemanagementadvice.EYREASispartofEYTransactionAdvisoryServices(TAS)department. TheRealEstateCorporateFinanceteamexistsofdedicatedrealestatefinanceprofessionalswhocombinewideexperienceintherealestateindustry,withapracticalapproachtoapplyingtheirknowledgeinrealestaterelatedtransactions.Thisisaresultofemployingadiversemixofindividualsincludingrealestateinvestmentbankers,surveyors,financialmodelers,investmentmanagersandfundmanagers.
Wehaveextensiveexperienceinhelpingclientsaddressissuesrangingfromdebtrestructuringandre-leveragingthroughtojointventurestructuring,equityplacementandrealestateacquisitionsanddisposals.
ServicesWhetheryourobjectivesaretoreleaseorraisecapital,acquireor/anddisposerealestate,orimplementcomplexfinancialsolutions,ourRealEstateCorporateFinanceteambringsexperienceto maximize financialandstrategicreturns,whichisapplicableonrealestatebusinesses,loans,portfoliosand/orindividualassets.TheRealEstateCorporateFinanceteamprovidesthefollowingservices.
Real Estate Corporate Finance
1. Buy-side AdviceWeactasleadadvisorfortheacquisitionofrealestatebusiness,loans,portfoliosandindividualassets.Wecanhelpyouassessthestrategicfitofabusinessbyprojectmanagingthesteps,assistinginnegotiationsanddevelopingfinancialmodels.• DevelopmentofM&Astrategiesandadvice• Transactionsupportontheacquisitionofrealestate
businesses,loans,portfoliosandindividualassets• Identifyingthepotentialsellersandtheappropriatemethod
ofapproachtothemarket• Comparabledataandmarketintelligence,coveringall
propertysectors• (Re)structuringtransactions• Developmentofinvestment/portfoliostrategy• Developarangeofcommercialacquisitionsolutionsto
meetyourindividualrequirements
2. Fund AdvisoryWeprovideabroadrangeoffundmanagementservicestoclientsonacustomizedbasisinordertomaximizereturns.• Fundstructuring• Portfoliostrategyadvice• Structuringofalternativefinancestrategies,e.g.,debt
funds
3. Capital Advisory (Debt/Equity)Weofferadvicetoclientsonawiderangeofcapitalraisingtransactions.Weassistcompaniesraisingdebtandequitycapitalandadviceonstructuredcapitaltransactions.• Arrangingequityforacquisitionorrefinancingofreal
estatefunds,jointventuresandprojectfinancings• Arrangingdebt(seniorbankdebtthroughtomezzanine)
foracquisitionorrefinancingofrealestateinvestments,developmentsorentitiesowningrealestate
• Financingstrategyandoptionappraisals
Acquisition Management Disposition
1. Buy-side Advice
3. Capital Advisory (Debt/Equity)
5. Investment Management Advisory
6. (Owner) Occupier Solutions
7. Development Advisory
9. Sell-side Advice
10. Vendor Due Diligence8. Real Estate Restructuring
4. Acquisition Due Diligence
2. Fund Advisory
Integrated Real Estate Solutions
4. Acquisition Due DiligenceInvestigatingtheobjectofpurchaseaddsvalueandidentifiesriskstotheentireprocessofbuyingandintegrating.• Realestaterelatedduediligenceinconjunctionwith
technicalandfinancialduediligence• Realestateduediligenceforsingleassets,portfolios,loans,
realestatecompaniesandNPLrealestatecollaterals• Identificationoffinancialandmarketrelatedrealestaterisks• Realestatevaluations
5. Investment Management AdvisoryWehelpclientsprepareforgrowth,manageriskandincreaseinvestmentreturnsfortheirshareholders.• Hold/sellanalysis• Identifyexitscenariosandworkoutstrategies• ReviewInvestmentManagementstrategies• Rentalanalysis,forecastsandinvestment&portfolioanalysis• Selectionandappointmentofassetmanagers,agentsand
otherprofessionals• Reviewperformanceofrealestateassetmanagement
organizations
6. (Owner) Occupier Solutions Weprovidestrategicadvicetocorporatestomaximizevaluefromtheirrealestateportfolio.• (Structured)Sale&Leasebacks• Balancesheetoptimisation• Optimizingpropertyportfolios/-management• Operationalperformanceanalysis• Capitalplanningandefficiency• Outsourcingstrategies
7. Development AdvisoryWeassistcompaniesindeliveringsuccessfulrealestatedevelopmentprojects.Strategicadvisoryfordevelopmentprojects.• Feasibilityandsensitivitystudies
8. Real Estate Restructuring Togetherwithourspecialistrestructuringteams,weprovideawiderangeofrealestaterestructuringadvice.• Development/identificationofrestructuringoptions• Adviceonthemostappropriateenforcementmethod• Advisingonnon-appointmentrestructuringoptions• Optimizingcapitalstructureandimprovingworkingcapital• Identifyportfoliorisks(includinglegal,debtandtaxissues)
9. Sell-side AdviceWeactasleadadvisorofthedispositionofrealestatebusiness,loans,portfoliosandindividualassets.• Transactionsupportonthedispositionofrealestate
businesses,loans,portfoliosandindividualassets• Identifyingthepotentialbuyerspoolandmethodof
approachtothemarket• Arranginginvestment/salesdocumentsandmemorandums,
includingmodelling• Developarangeofcommercialdispositionsolutionsto
meetyourindividualrequirements
10. Vendor Due DiligenceWhensellingarealestatebusiness,loan,portfolioor/andindividualassetvendorduediligencehasmultiplefunctionstospeeduptheprocessandmakeanearlyinsightintotherisks.• Fullvendorduediligenceservices(see4.DueDiligence)• Settingupthedataroomcontainingallrelevantdue
diligencedocuments
Acquisition Management Disposition
1. Buy-side Advice
3. Capital Advisory (Debt/Equity)
5. Investment Management Advisory
6. (Owner) Occupier Solutions
7. Development Advisory
9. Sell-side Advice
10. Vendor Due Diligence8. Real Estate Restructuring
4. Acquisition Due Diligence
2. Fund Advisory
Integrated Real Estate Solutions
Tristan DhondtPartner Real Estate Advisory Services• Office: +3227746017• Mobile: +32497480486• [email protected]
Stefan van den BrinkSr Manager Real Estate Advisory Services• Office: +31884072405• Mobile: +31629083148• [email protected]
Jeroen MuisSr Consultant Real Estate Advisory Services• Office: +31884072403• Mobile: +31621252363• [email protected]
Inthecurrentmarketwheretransactionsaredifficulttofind,ourclientsrelyonourblendofsectorexpertiseandmarketexperiencetoassisttheminallstagesofthetransactionprocess.Byworkingasanintegratedteamandbeingabletodrawonprofessionalsfromtax,audit,assurance,legalandnotaryservices,advisoryfunctionsandotherdedicatedrealestateconsultantsacrosstheglobe,weensurethatinnovativesolutionsareimplementedtogeneraterealvalueforourclients.
Advisory – RiskProperlyapproached,theprocessofriskmanagementcanaddvalue.Inworkingthroughscenariosandimpactanalysis,realestate,hospitalityandconstructioncompanies,aswellasrealestatefunds,mayfindopportunitiestotightenprocessesandcontrolsthatmakethemmoreagileandabletooperatemoreeffectivelyinanymarketconditions.Theseinclude:• Strategicrisk• Financialrisk• Operationalrisk
• Compliancerisk• Transactionalrisk• Technologyandsecurityrisk
Advisory – Performance ImprovementOurapproachprovidesindependent,objectiveandhigh-valuebusinessadvicetotheworld’smostsuccessfulrealestateinvestors,developers,owners,lendersandusers.Ouradvisorsbringawealthofexperience,knowledgeandbusinesscapabilitytohelpyouachievemeasureableandsustainableperformanceimprovementintoday’scompetitiveenvironment.Theseinclude:• Commercialdesignandstrategic
planning• Establishinginvestment
governance
• Businessprocessandoperationalperformanceimprovements
• Repositioninganalysis• Feasibilitystudies• Programadvisory
Contacts
EY|Assurance|Tax|Transactions|Advisory
About EYEYisagloballeaderinassurance,tax,transactionandadvisoryservices.Theinsightsandqualityserviceswedeliverhelpbuildtrustandconfidenceinthecapitalmarketsandineconomiestheworldover.Wedevelopoutstandingleaderswhoteamtodeliveronourpromisestoallofourstakeholders.Insodoing,weplayacriticalroleinbuildingabetterworkingworldforourpeople,forourclientsandforourcommunities.
EYreferstotheglobalorganizationandmayrefertooneormoreofthememberfirmsofErnst&YoungGlobalLimited,eachofwhichisaseparateLegalentity.Ernst&YoungGlobalLimited,aUKcompanylimitedbyguarantee,doesnotprovideservicestoclients.Formoreinformationaboutourorganization,pleasevisitey.com.
©2014Ernst&YoungAccountantsLLP.AllRightsReserved.
ey.com/nl
Integrated Real Estate SolutionsTaxRealestatetaxissuesareoftenextremelyintricate.Understandingthenumerouscomplexareasoftaxationimportanttothoseintherealestateindustryrequiresablendofindustryspecificskillsandtechnicalknowledge.Ournetworkhelpsustoassistyouinmanagingthedetailsofcross-bordertaxplanningandadministrationtooperateinacommerciallyviableandpracticalway.Theseinclude:• Structuring• Compliance• Planning
• Transactionalduediligence• Structural,operationalandrisk
reviews
Legal (HVG)OurstrategicalliancewithHollandVanGijzenenablesustocloselycooperatewithHVGifthisisbeneficialtoourclients.Thismeansthat,wheredesired,wecanofferlegalservicesaspartofamulti-disciplinaryteam,whileclientskeeponedesignatedpointofcontact.• Titlesearchandduediligencereport• Structuringanddocumentingthetransaction• Transferoftheproperty
Audit and AssuranceOurrobustapproachtoauditandassuranceiscombinedwithdeepsectorknowledgetoprovideapowerfulmixandistailoredtoyourbusinesstofacilitateacostefficientandpragmaticprocess.Wepromotethesharingofknowledge,frominternalandexternalsources,throughouttheteam,sothateverymemberisawareofyourkeybusinessissues.Theseinclude:• High-qualityauditandassurance• Accountingservices• Financialstatementreviews• Corporatecompliance
• Internalcontrols• IFRScomplianceandadvisory• Compliancewithkeydirectives
andregulatoryframeworks
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