Loan Maturity
Replacement financing where an existing facility is approaching maturity before the asset or business plan is ready for its intended exit.
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RESTRUCTURING & EXIT FINANCE
Restructuring & Exit Finance
Capital solutions for refinancing, asset stabilisation, restructuring and transitional situations where existing financing no longer matches the asset or business plan.
Creating a route from financial pressure to a viable exit
Real estate financing requirements can change materially during the life of an investment. Loan maturities, changing interest costs, construction delays, slower sales, leasing risk or a revised business plan can create a mismatch between an existing facility and the underlying asset strategy.
KSCG advises investors, developers and sponsors on financing solutions designed to create additional time, liquidity or structural flexibility.
The objective is to establish a credible route from the current financing position towards stabilisation, refinancing, asset disposal or another sustainable long-term solution.
Applications
Where restructuring and exit finance is used
Refinancing Pressure
Capital solutions where existing debt needs to be refinanced but conventional long-term financing is not yet available.
Asset Stabilisation
Financing to provide additional time for lease-up, refurbishment, sales or operational improvement.
Development Completion
Capital required to complete a development or resolve a funding shortfall before practical completion.
Bridge to Sale
Short-term financing that creates sufficient time for an orderly asset or portfolio disposal.
Capital Restructuring
Reorganisation of senior, subordinated or sponsor capital where the existing structure is no longer appropriate.
Capital Structure
Financing solutions built around the required exit
Restructuring finance is highly transaction-specific. The appropriate solution depends on asset value, existing debt, remaining capital requirements, cash flow, timing and the credibility of the proposed exit strategy.
Depending on the situation, KSCG can assess refinancing, bridge facilities, development exit finance and structured capital solutions.
Underwriting
Key financing considerations
Current Asset Value
The present market value and lender security position relative to the existing and proposed debt.
Existing Debt
Current facility balances, maturity dates, ranking, security and any existing lender constraints.
Capital Requirement
The amount required to refinance existing debt and fund any remaining capex, interest or transaction costs.
Business Plan
The actions required to reach stabilisation, completion, refinancing or sale.
Time to Exit
The realistic period required to execute the proposed repayment or restructuring strategy.
Exit Certainty
The quality and credibility of the proposed refinancing, disposal or long-term financing route.
Our Approach
Resolving the financing structure before options narrow
Restructuring situations are often time-sensitive. The earlier the financing position is assessed, the wider the range of potential solutions generally remains available.
KSCG reviews the existing capital structure, identifies the funding gap and evaluates realistic refinancing and exit alternatives before approaching suitable capital providers.
Analyse
Review the asset, existing financing, remaining capital requirement and key transaction deadlines.
Restructure
Determine a viable financing structure and credible path towards repayment or stabilisation.
Source
Identify lenders and alternative capital providers capable of executing within the required timetable.
Execute
Coordinate proposals, negotiations, lender due diligence, documentation and closing.
Markets
Restructuring and exit finance across Europe
Netherlands
Refinancing and transitional capital solutions for professional real estate investors and developers.
Spain
Restructuring, development exit and bridge solutions for domestic and international sponsors.
European Markets
Cross-border solutions through banks, debt funds, private credit and specialist alternative lenders.
Discuss a restructuring or exit requirement
Speak with KSCG about refinancing, restructuring, stabilisation or exit financing for your real estate transaction.
Discuss a transaction→