Real Estate Finance (REF) specialises in commercial real estate debt.
The team is highly experienced across multiple real estate sectors and subsectors. REF offers investors access to risk-adjusted returns by using its deep expertise to provide debt capital liquidity to underserved borrowers in the commercial real estate market, leveraging the team’s significant extensive due diligence and loan structuring capabilities.
We don’t believe there is a standard real estate finance transaction. Each deal is underwritten on its own merits, focusing on the quality of sponsorship of the lending proposal, in particular alignment of interest between lender and borrower, asset location, liquidity and the borrower’s business plan. The first investment portfolio, launched in 2017, focused on mid-market sized loans and capturing the illiquidity premium to deliver income secured on physical assets with strong loan protections. Since launch, it has over delivered on its target IRR of 6%.
For more information please contact: realestatefinance@qsix.com
Portfolio examples
£25m loan for multi let offices (Apr 2022)
€25m acquisition loan to support the purchase of five multi-let office buildings located in The Hague by funds advised by Castleforge. The terms of the loan include a 5-year committed capex tranche to support Castleforge’s stated strategy to undertake a rolling refurbishment of the office buildings. This refurbishment activity will include the introduction of Clockwise, Castleforge’s flexible workspace operator, in parts of the buildings.
€24m funding deal for Lifestory’s Cobham development (Apr 2022)
£24m residential inventory loan to Lifestory, a business backed by Oaktree Capital Management, to support the refinance of its Cobham Bowers later living development. Located in the heart of Cobham, Surrey, Cobham Bowers comprises 53 homes across four floors, with the 1,2 and 3-bedroom apartments. The funding provides Lifestory with the flexibility to manage the asset through the sale of homes and through its emerging rental business.
£10.5m office refinance facility (Feb 2022)
£10.5m refinance and capex facility to finance Grade II listed office building, located in Burton upon Trent. The capex tranche will finance the refurbishment and fit out of vacant space upon securing a pre-let, with a view to increasing and diversifying occupancy while improving asset liquidity.
£14.95m retail park acquisition facility (Sept 2021)
£14.95m acquisition loan to support the purchase of Shane Retail Park located in Belfast, Northern Ireland by funds advised by David Samuel Properties. This was the second loan in the sector that QSix REF has made with this Sponsor in 2021.
€25m Dutch hotel and hospitality deal (Jul 2021)
€25m acquisition loan in The Netherlands, with the funds used by the borrower to purchase four hotel and hospitality properties, each located at strategic motorway points across The Netherlands. The loan represented the first deal completed by QSix REF in The Netherlands, having announced its expansion into the Dutch commercial real estate debt market through the opening of its Netherlands office in early 2021.
£40m residential construction and inventory financing
(May 2021)
£40m construction and inventory facility that funded the Tobacco Warehouse residential development at Stanley Dock in Liverpool. Planned in three phases, this ambitious and unique development is converting the 1.4 million sq ft heritage building into 538 residential apartments and approximately 100,000 sq ft of ground floor commercial space. The QSix REF loan is being used to complete Phase 1 of the Tobacco Warehouse into 192 apartments and 28,557 sq ft of commercial space and basement car parking.
£19.11m retail park acquisition facility (April 2021)
£19.11m acquisition facility to David Samuel Properties, with the facility used for the purchase of Danum Retail Park in Doncaster and Lisnagelvin Retail Park in Londonderry. The sellers were BlackRock and M&G respectively
£13.5m 5-star London hotel financing (April 2021)
£13.5m financing agreement to luxury London hotel Number Sixteen, owned by a leading global hotel company with an excellent track record of growth and operation of their boutique hotels. QSix REF’s funding strengthened the Group’s balance sheet and created additional liquidity ahead of reopening and the easing of UK lockdown restrictions.
