Home - Client Transactions - $63.4m Industrial Property Portfolio Restructure

$63.4m Industrial Property Portfolio Restructure

$63.4m Industrial Property Portfolio Restructure

Service

$63.4m Industrial Property Portfolio Restructure

Client

Private Family Group

Location

VIC

Industry

Commercial Property Investment

Deal Team

Lead Advisor

Chris Papdopoulos

Associate Director

Chris is responsible for property related deal origination and structuring, across all forms of property asset classes. He has over 20 years’ experience in property finance and transacted over $2 billion in property investment and development deals throughout his career.

A majority of Chris’ career was in senior relationship management roles within ANZ’s Commercial Property Finance division. Prior to joining EMK Thomas Capital, Chris spent six years in senior executive roles within the property funds management industry and responsible for new client acquisition and portfolio management.

Chris’ predominant area of expertise is working with small to large private family businesses providing advice and structuring solutions on:

  • Commercial Property Development Finance
  • Predevelopment Finance
  • Commercial Property Investment Finance
  • Facility review and restructuring

Co Lead Advisor

Jonathan Koziaris

Director

Co-Founder Jonathan Koziaris brings over 17 years of banking and commercial lending experience to the organization.

Having previously worked at 3 of the major banks in predominantly Senior Relationship Management roles, Jonathan brings a depth of experience in the Emerging Corporate, Property, and SME Diversified Industry segments.

Jonathan’s predominant areas of expertise include:

  • Working with diversified Emerging Corporate Business’ and SME’s seeking growth funding solutions
  • Property development and construction funding across the full spectrum of asset classes
  • Commercial property investment facility structuring and acquisition funding
  • Capital structuring cost analysis and advice
  • Transactional banking
  • Foreign exchange solutions and management strategies

Co Lead Advisor

Adil Basoeki

Corporate Analyst

Adil Basoeki is an experienced finance professional with strong credit and analytical capabilities.

His experiences working in numerous Senior Business Banking Relationship roles over the l10 years at NAB has provided him the rounded skills essential to tailoring finance solutions for customers in various industries.

Adil has extensive experience in the following areas:

  • Lending solutions for Professional Services type organisations
  • Working with Small to Medium Enterprises and Emerging Corporate Businesses
  • Commercial Property Investment and Developing Funding solutions
  • General cash flow lending transactions

The Challenges

  • Refinance of several large-scale industrial assets including warehouses, standalone office, and hardstand.
  • The portfolio experienced a level of vacancy over the last 18 months with some assets undergoing repurposing and refurbishment.

Our Solution

  • The transaction was tendered out to several major banks at a commencing ICR of 1.20x with step-up milestones and included additional funds to complete fit out / capex costs for incoming tenants.
  • Lenders were requested to set ongoing ICR milestones calculated on a combination of current leases and several Heads of Agreement pending their conversion to executed leases.

Client's Result

  • Solution provided our client committed funding with time to finalise leases under negotiation, and surplus funds to undertake required capex and working capital during rent free periods.
  • Our engagement with multiple lenders generated a high level of competitive tension with the result exceeding the client’s expectations on structure, pricing and reduced switching costs.