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Specialism: Financial Advisory & UHNW Services Property
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Average client size: £5 million - £25 million
Fixed fee offering: Yes - Dependent on client requirement
Number of offices globally: 1-5
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UK commercial investment property refinancing
Negotiation and arrangement of an £18m refinancing facility for an existing commercial mortgage facility. As the existing bank funders were taking a very short term view, Navitaur challenged the refinancing facility. The commercial property was non-income producing but with the benefit of planning permission for change of use to residential. Significant negotiation by Navitaur on behalf of the underlying clients with potential new funders resulted in an interest-only solution over a three-year term sourced from a specialist commercial real estate funder at a margin of 2.75 percent over the cost of funds.
Portfolio loan review
Review and bench-marking of an existing loan facility for €7m secured against investment portfolios held in the name of an offshore trust. Trustees required independent review and expert opinion on current lending terms and documentation. Following analysis, Navitaur recommended two distinct options: re-negotiation with the existing bank lender or switch of bank lender. Significant negotiation by Navitaur on behalf of the trustees with potential new lenders led to very favourable terms being offered: nearly fifty percent reduction in overall cost. In line with client’s wishes only transfer of the custody of the investment portfolios was negotiated, with the investment management relationship being maintained with the current manager. Flexible interest-only solution negotiated and arranged with a new bank lender and custodian has resulted in a significant financial benefit to the client.
UK residential property portfolio refinancing
Advising upon and structuring of a £20.5m refinancing facility for a portfolio of 4 substantial residential properties. Facility provided significant capital with which the client will be able to continue their growth ambitions and invest further in UK real estate assets. Facility had a degree of challenge due to client requirement for non-recourse funding Significant negotiation in respect of terms by Navitaur on behalf of the underlying clients with potential new funders. 5 year term facility with a small element of amortisation arranged at a margin of 2.25% over cost of funds
UK retail investment property portfolio refinancing
Advising upon and structuring of a £21m refinancing facility in respect of a portfolio of 17 retail bank branches. Facility provided significant capital over and above existing debt to enable further investment in UK real estate assets. Facility had a degree of challenge due to geographic dispersal of property assets. Significant negotiation in respect of terms by Navitaur on behalf of the underlying clients with potential new funders. Structured as a 5 year fixed rate facility linked to UK Gilt rates from a specialist UK insurance fund