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OUR COMPANY AFFILIATES

CBRE GROUP

CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2019 revenues of $23.9 billion and more than 100,000 employees (excluding affiliate offices). CBRE has been included in the Fortune 500 since 2008, ranking #128 in 2020. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.

INVESTMENT SERVICES

CBRE Global Investors, combined with CBRE Clarion Securities and CBRE Caledon, is one of the world’s leading real asset investment managers with $108 billion in assets under management.

Built up over more than 40 years, our unparalleled platform is focused on real assets, giving our institutional clients access to real estate and infrastructure in the Americas, Europe and Asia Pacific. Our clients benefit from a complete range of investment solutions including equity and debt, direct and indirect, and listed and unlisted strategies.

Trammell Crow Company, founded in Dallas, Texas in 1948, is one of the nation’s oldest and most prolific developers of, and investors in, commercial real estate.The CBRE Global Investors and Trammell Crow Company platforms make up the Real Estate Investments division of CBRE Group.

The Real Estate Investments division is led by
Mike Lafitte, Global CEO, Real Estate Investments.

BLOGS

Regularly released content on the state of the real estate and infrastructure industry are produced by our subject matter experts and shared on their blogs. A selection of them can be found below.

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Lending – Europe

Our in-house Credit Strategies business is a tailored private lending platform, providing finance solutions for commercial real estate investors secured on a wide range of property types and sectors.

OVERVIEW

Our in-house Credit Strategies provides senior mortgage and mezzanine financing to owners and developers of high-quality, lightly transitional commercial real estate assets. Vertical integration combines underwriting, origination, servicing and portfolio management, allowing for an expedited approval and closing process, enhanced certainty of execution and a single point of contact.

Our team of specialists seek to identify the right loan to suit your needs, providing an efficient and flexible alternative to bank lending.

We use our unique resource advantage of being part of CBRE Group and seek to harness the specialist knowledge required to work with borrowers across many sectors and markets through a global network of offices.

Loan Products
 
UK Core Plus

Flagship UK debt fund providing whole loans of £7m-£150m at up to 75% LTV. Senior, stretch senior, whole loan and capex facilities secured on real estate across the UK

 
Strategy Whole loans
Loan Size £7-100 million
LTV Up to 75% LTV uni-tranche
Interest Margin Typically 350-450 bps
Sectors All commercial and residential sectors including operational properties such as hotels and student accommodation. No appetite for healthcare, pub portfolios and casinos / gaming.
Geographies England, Scotland, Wales
Investment Loans Yes, including properties with short income
Development Loans Capex / refurbishment of existing buildings, including speculative capex of commercial properties, up to 75% LTC. No ground-up commercial or residential development.
Site Loans Where existing use underpins value
Term 2-7 years
Fixed / Floating Rate Fixed coupon and floating rate (3 month LIBOR) options available
Security and Documentation Standard SPV security package, LMA documentation
Personal Guarantees Not required
Timing Usually 4-6 weeks from inception to drawdown
 
UK Mid Market

Senior lending programme with loans of £4m-£20m for 1-7 years at up to 65% LTV in all mainstream commercial and residential sectors in the UK

Strategy Senior Loans
Loan Size £4-20 million
LTV Up to 65% LTV
Interest Margin Typically 275-350 bps
Sectors All commercial and residential sectors including operational properties such as hotels and student accommodation. No appetite for healthcare / casinos / gaming
Geographies UK and Republic of Ireland
Investment Loans Yes, including properties with short income
Development Loans No
Site Loans No
Term 1-7 years
Fixed / Floating Rate Floating rate (3m LIBOR) options available
Security and Documentation Standard SPV security package, short-form documentation
Personal Guarantees Not always required
Timing Usually 4-6 weeks from inception to drawdown
 
Special Situations

Non-standard lending including high leverage, development, bridging and repositioning funding from £5m. Funding for more complex strategies at up to 85% LTV, loan term 6 months – 3 years.

 
Strategy Complex loans
Loan Size £5 million+
LTV No maximum threshold
Interest Margin Typically 700 – 900 bps
Sectors All commercial and residential sectors including operational properties such as hotels and student accommodation.
Geographies UK and Republic of Ireland
Investment Loans Yes, including properties with short income
Development Loans Yes, including ground up
Site Loans Yes
Term 3-36 months
Fixed / Floating Rate Floating rate (3-month LIBOR) options available
Security and Documentation Standard SPV security package, LMA documentation
Personal Guarantees Not always required
Timing Usually 4-6 weeks from inception to drawdown
 
UK Core Plus

Flagship UK debt fund providing whole loans of £7m-£150m at up to 75% LTV. Senior, stretch senior, whole loan and capex facilities secured on real estate across the UK

 
Strategy Whole loans
Loan Size £7-100 million
LTV Up to 75% LTV uni-tranche
Interest Margin Typically 350-450 bps
Sectors All commercial and residential sectors including operational properties such as hotels and student accommodation. No appetite for healthcare, pub portfolios and casinos / gaming.
Geographies England, Scotland, Wales
Investment Loans Yes, including properties with short income
Development Loans Capex / refurbishment of existing buildings, including speculative capex of commercial properties, up to 75% LTC. No ground-up commercial or residential development.
Site Loans Where existing use underpins value
Term 2-7 years
Fixed / Floating Rate Fixed coupon and floating rate (3 month LIBOR) options available
Security and Documentation Standard SPV security package, LMA documentation
Personal Guarantees Not required
Timing Usually 4-6 weeks from inception to drawdown
 
UK Mid Market

Senior lending programme with loans of £4m-£20m for 1-7 years at up to 65% LTV in all mainstream commercial and residential sectors in the UK

Strategy Senior Loans
Loan Size £4-20 million
LTV Up to 65% LTV
Interest Margin Typically 275-350 bps
Sectors All commercial and residential sectors including operational properties such as hotels and student accommodation. No appetite for healthcare / casinos / gaming
Geographies UK and Republic of Ireland
Investment Loans Yes, including properties with short income
Development Loans No
Site Loans No
Term 1-7 years
Fixed / Floating Rate Floating rate (3m LIBOR) options available
Security and Documentation Standard SPV security package, short-form documentation
Personal Guarantees Not always required
Timing Usually 4-6 weeks from inception to drawdown
 
Special Situations

Non-standard lending including high leverage, development, bridging and repositioning funding from £5m. Funding for more complex strategies at up to 85% LTV, loan term 6 months – 3 years.

 
Strategy Complex loans
Loan Size £5 million+
LTV No maximum threshold
Interest Margin Typically 700 – 900 bps
Sectors All commercial and residential sectors including operational properties such as hotels and student accommodation.
Geographies UK and Republic of Ireland
Investment Loans Yes, including properties with short income
Development Loans Yes, including ground up
Site Loans Yes
Term 3-36 months
Fixed / Floating Rate Floating rate (3-month LIBOR) options available
Security and Documentation Standard SPV security package, LMA documentation
Personal Guarantees Not always required
Timing Usually 4-6 weeks from inception to drawdown

For illustrative purposes only as an indication of target loan characteristics, which is based on CBRE’s subjective judgment as of the date such material was posted and is subject to change. There can be no assurance each loan will exhibit all such characteristics.

UK CASE STUDIES

MIXED USE PORTFOLIO

MIXED USE PORTFOLIO

LOCATION: Scotland

LOAN: £80m

LTV: 75%

TERM: 5 years

Refinance of a high quality portfolio of leased and operational assets including some assets at early stages of stabilisation

OFFICE

OFFICE

LOCATION: Leeds

LOAN: £15m

LTV: 65%

TERM: 5 years

Acquisition finance on a part vacant office building to support a capex and reletting strategy

STUDENT ACCOMODATION

STUDENT ACCOMODATION

LOCATION: Glasgow

LOAN: £40m

LTV: 71%

TERM: 3 years

Take out of development finance during trading stabilisation phase

HOTEL

HOTEL

LOCATION: London

LOAN: £20m

LTV: 60%

TERM: 5 years

Take out of development finance at the point of practical completion on a owner-managed hotel

OFFICE

OFFICE

LOCATION: London

LOAN: £35m

LTV: 64%

TERM: 4.5 years

Acquisition finance for a single let office building, loan expiry coterminous with remaining lease term

SERVICED APARTMENTS

SERVICED APARTMENTS

LOCATION: London

LOAN: £40m

LTV: 70%

TERM: 5 years

Higher LTV refinance of a stable portfolio of managed serviced apartments

UK TEAM

Emma Huepfl

Emma Huepfl

Managing Director
+44 (0)207 809 9614
[email protected]

Alexandra Lanni

Alexandra Lanni

Head of Investments
+44 (0)207 809 9618
[email protected]

Bryan Hawkins

Bryan Hawkins

Investments Director
+44 (0)207 809 9616
[email protected]

Cilian McHugh

Cilian McHugh

Investments Director
+44 (0)207 809 9617
[email protected]

David Robinson

David Robinson

Head of Loan Operations
+44 (0)207 809 9620
[email protected]

Julia Deppen

Julia Deppen

Associate Director, Loan Operations
+44 (0)207 809 9621
[email protected]

Meera Sanjee

Meera Sanjee

Director, Loan Operations
+44 (0)207 809 9041
[email protected]

Varun Sarawagi

Varun Sarawagi

Investment Associate 
+44 (0)207 809 9626
[email protected]

Adam Slater

Adam Slater

Consultant 
+44 (0)207 809 9626
[email protected]

Chris McMain

Chris McMain

Head of Investments
+44 (0)207 809 9626
[email protected]