Waypoint offers a comprehensive range of loan management services across all loan classifications and real estate sectors. We work closely with our clients to develop custom solutions to meet their objectives.

Asset Inspections

Internal and external inspections by RICS qualified surveyors with a traffic light based risk assessment / report. Within this we can track the tenancy schedule to actual occupation and provide commentary on repair and condition as well as benchmark rents and yields to comparable assets. Commentary can also be provided on Business Plans and ongoing surveillance / watchlist tracking requirements.

Asset Management

We can deploy a team to manage assets the Lender has taken control over. This can also be provided as a shadow or back-up service to monitor the in-situ Asset Manager, especially in loan restructurings where a Lender requires 3rd party oversight. In any capacity we work to create strong relationships with the team and tenants to energise thinking and actions. We provide clear and detailed reporting on the asset along with a monthly cashflow. Whether this is a short or long-term strategy to optimise returns we can also look at capital investment to drive value.

Asset Management

Appointed as LPA Receiver by a major UK lender on a portfolio of shopping centres in England and Scotland.
  • The principal leases were re-geared and the assets’ income was stabilised.
  • We communicated with all stakeholders; lenders, investors & administrators to deliver comprehensive reports and analysis
  • We managed the loan on time
  • Identified an asset management opportunity to build PBSA
  • Project managed the outline planning consent for 248 bed PBSA scheme, with full planning now being sought.
  • Negotiated with interested parties on a JV basis for the PBSA scheme to progress.
  • Formulated and delivered an exit strategy by way of asset sales to ensure maximum debt recovery for the Lender.
Retail buildings

Director Services

We can provide SPV Directors, Company Secretarial and Accounting services. We can also provide Non-Executive Directors to work alongside Borrower SPV Directors to track Business Plans. We can provide company formation, compliance, domiciliation and tax management services too.

Director Services

Appointed as special servicer for a Dutch Mixed Use/Multi-Tenanted Loan
  • The loan defaulted at maturity and a new agreement was entered into with the Sponsor.
  • Appointed new directors so the sales process could be properly managed.
  • Ensured continued debt service on the loan throughout the workout process and worked closely with multiple creditors to agree the asset disposal plan at the agreed target prices.

Escrow Agency

We provide Escrow services for the real estate debt environment. We utilise standard agreements which reduces cost, and we provide a single point of contact who understands the deal and tailors their approach to suit the transaction specifics throughout the mandate.

Loan Closing

We provide a task management and diarised tracking approach to take a term sheet through to document signing and loan funding. Utilising a clear traffic light-based system, we strive to ensure the loan closes in a timely manner and within budget. We work directly with the Lender and Borrower to manage any problems to help control costs and avoid unnecessary legal fees.

LPA Receivership

The Law of Property Act 1925 still provides to this day the simplest route to enforcement in England and Wales. We have qualified LPA Receivers who can manage your assets in any receivership scenario and who work to provide transparent reporting along with direct and effective asset management to capture all asset value including tax offsetting (where floating charges over the Borrower SPV structures can be exercised).

LPA Receivership

Appointed as fixed charge receiver on two residential development sites on behalf of a UK lender.
  • Immediately appointed security contractors to secure the sites
  • Placed both building and public liability insurance with a reputable insurer
  • Arranging for the property to be boarded up, wind and water-tight to meet the insurer’s requirements
  • Implemented a manned security team
  • Regular inspections and reporting
  • Assisted the Lender with financial modelling and reviewed the Borrower’s business plan
  • Communicated with all stakeholders; lenders, investors and residential tenants
  • Project managed the final stages of the development working with tenants and contractors to complete the works.
  • Appointed new managing agents to manage the existing residential tenants and day to day management matters
  • Formulated an exit strategy to maximise the assets’ value and recovery of the loan for the Lender.

Risk Management

We provide tailored reports for CRE Lenders to track asset performance. This includes business plan reviews / restructuring reviews and scenario planning. We can also report on trends in the cashflow / yield / opex / rental growth / development option value and exit scenarios along with cost analysis.

Servicing

For new entrant CRE Debt lenders, we provide tthe Agency functions whilst you establish and grow your business. Our service focuses on the loan compliance, billing and collecting and reporting functions. We can financially structure this service to suit you until such time as your require a larger Servicing Platform, at which point we transition the Agency function to one of our clients, Mount Street, the market leading Loan Servicing provider.

Debt Work Out

The Waypoint Team has a very strong track record of managing distressed CRE loans whether CMBS / Syndicated or bilateral, throughout Europe. The Team's DNA goes back to the very beginnings of the structured Real Estate lending market. We assist Lenders to manage real estate loans and navigate complex distressed and turn around property / loan situations. The team has qualified Surveyors, Receivers and Insolvency Practitioners.

Debt Work Out

Special servicer for a French Logistics and Office Loan
  • Formulated and agreed an asset management plan concentrating on the main tenant and a sales process was commenced.
  • The assets were sold and the remaining SPV corporate structure was separately sold as a going concern.
  • The exit price was in excess of the latest valuation by circa 20%, coupled with loan cash trapping and tax mitigation work, recoveries finalised at circa €150m against original loan value of €220m and valuation of €95m.

Valuation Support

We can support the Lender and Borrower in the early stages of a new loan to select and engage the right valuer. We can set-up a data-room to facilitate the sharing of asset information and to ensure unfettered access to the property manager / asset manager and letting agents for the asset information. We can then undertake a valuation review process to critique the valuation and finally we check the report is correctly addressed with the correct PI cover levels and the relevant reliance language.

Waypoint Loan Management

Waypoint Newsletter

A weekly summary of property industry highlights and financial market commentary. Please sign up below.