Juniorfinansiering i fastighetsbranschen? Fokus kring Mezzanine
Junior-Alternative-Mezzanine-FinancingReal estateInvestmentsFinancing methodsCapital structureLTVTrancheTrack recordIRRTotal returnLendersBorrowersSenior loanEquity gapJunior-Alternativ-Mezzanine-FinansieringFastighetsinvesteringFinansieringsmetoderKapitalstrukturLTVTrancheTrack recordIRRTotal avkastningLångivareLåntagareSeniorlånEquity gap
Real estate financing is one of the key figures for financial success and fundamental to asuccessful business. Funding will come in several different ways, from existing cashflows andassets to new capital requirements which are aimed at different markets.These markets are constantly changing and since the recent financial crisis, there have beenadjustments and austerity measures which led to that the banks have become more restrictive intheir lending.The real estate industry is characterized by both long-term and short-term thinking that ischaracterized by a solid continuity. Our thesis discuss how the demand is in the real estatebusiness and how mature the Swedish market is for junior financingwith focus aroundmezzanine debt and where are we headed in the near future.We've reached out to the key players in the industry on both the buy and sell side of real estatefinancing but also people between lenders and borrowers that handles transaction advice. Tohave been able to implement the analysisa survey and simulation of an investment calculationwas created. This questionnaire was answered by many real estate companies with senior peoplethat had operational positionsmost associated with corporate commitments. These companiesare active in growth areas and especially in the Stockholm area of commercial real estate. Afterconducting the study, we have determined that the Swedish market is mature and ready forjunior financing and it tends to be a gap between the smaller and the larger real estate companiesin terms of demand for mezzanine debt.