Debt Management for Non-listed Real Estate Funds

This INREV advanced course will address financing issues for non-listed property funds in the context of today’s financial markets environment and the lending policies of banks.

The financial down turn has seen non-listed property funds confronted with financing issues such as loan covenant breaches and refinancing risks. Although markets have started to stabilise, deleveraging continues to be a relevant theme for the industry. Bank lending for funds is subdued with lending standards expected to be tightened further due to capital constraints and banking regulation.

This course will teach delegates about these latest debt management issues. It will outline the current real estate financing market, new lending products and refinancing possibilities in today’s market. The course will start an analysis of a risk model for non-listed property funds to help identify the cause and impact of debt issues throughout a fund.

There will be a special focus on dealing with the banking sector including identifying solutions to financing issues in funds and how to communicate these with lenders. Attendees will also explore solutions through a real life case study presented at the course.

The course will cover the following topics:

- The latest development in the real estate lending market;
- How to identify risks in non-listed property funds which can trigger financing problems;
- How to manage financing and refinancing issues in your real estate portfolio;
- How to deal with non-performing assets and related debt issues;
- How to identify alternative financing strategies;

The course will be given by leading industry experts with an emphasis on group discussions and case studies to allow participants to share their views.

Who should attend the course?

The course is aimed at experienced professionals with several years of practice within the non-listed real estate funds industry. This could be attendees who wish to improve their knowledge of debt management, understand the practical applications and those who want a better understanding of the issues around debt in non-listed real estate funds. The course is suitable for middle to senior management which could include CFO/CIO/Finance Directors at a fund level and/or Portfolio Managers at an investor level. The course is open to INREV members and non-members.

Upon completion of the seminar participants will be able to:

- Comprehend and have a good overview of lending practice in the industry;
- Understand the potential impacts of debt on a fund;
- Identify the different risk items caused by funds due to debt issues
- Have a good overview of market practice for debt structuring in non-listed real estate funds;
- Understand the potential debt issues and  be able to propose and work through solutions for these issues;