Our Services
Debt Advisory

Securing market clearing pricing is the minimum our clients expect. We analyse, negotiate and optimise every commercial term, including the less tangible, defensive clauses – to protect the Borrower in the event of a market downturn. This can often involve innovating new or amended loan structures; negotiating default covenants and mechanics; repayment profiles; prepayment fees and minimising lender step-in rights.

Backgrounds in restructuring non-performing debt underlines our execution capability; we are experts in loan analysis, structuring and negotiation.

Westfort’s clients are predominantly CRE investors and developers aiming to raise capital against existing assets/portfolios (refinancing), re-positionings, new acquisitions and developments. We enable optimal finance solutions via a range of deal profiles, from senior/whole loans to structured financings (senior/mezzanine/preferred equity) to large CMBS transactions.

We combine capital markets expertise with extensive CRE knowledge to offer financing solutions across the capital stack and across both traditional and alternative sectors, including student accommodation and self-storage facilities.

Westfort have a global network of capital for sourcing debt. We offer our clients a discreet service and will speak to our network of lenders in a confidential basis to ensure our client’s investment is protected.

We offer a full range of execution services for borrowers:

  • Sourcing Market-Clearing Loan Terms
  • Term Sheet Review & Negotiation
  • Debt & Property Underwriting
  • Cashflow Modelling
  • Due Diligence
  • Structuring
  • Hedging Strategies
  • Support with Real Estate Valuation

Restructuring & Workout

Westfort Advisors have a demonstrable track-record of innovating and executing optimal recovery strategies for clients. We have hands-on experience of the workout processes in most European countries, benefiting from extensive local networks, including independent CRE asset managers, legal counsel, receivers, brokers, agents, surveyors, operating management companies and administrators. Our team have previously partnered with global banks, credit funds and CMBS platforms to design and execute recovery strategies.

Westfort will innovate and appraise a range of workout scenarios, considering the legal framework and market conditions, as well as other less tangible factors such as execution and reputational risk – in order to determine the optimal workout strategy.

Benefitting from extensive loan restructuring and real estate expertise, combined with an excellent track record of counterparty management/negotiation, we offer a broad range of restructuring services, which can be tailored in accordance with the client’s requirements.

Restructuring services:

  • Cash flow modelling and recovery scenario analysis.
  • Negotiations with borrowers, creditors and 3rd parties
  • Creation and implementation of business plans
  • Working with insolvency lawyers and other legal counsel
  • Enforcement of real estate assets, company share pledge or director replacement
  • Appointing receivers and administrators based on best in class and exit strategy
  • Sourcing external equity and debt capital
  • Arrangement of capex facilities
  • Restructuring of loans, funds and borrower entities
  • Tax optimisation
  • Managing the interests of all creditors
  • Managing liquidation plans

Loan Underwriting & Transaction Support

The Westfort team have underwritten over €23bn of NPLs/PLs across 20 European jurisdictions Between 2015-2020, Westfort staff have operated alongside 15 clients, comprising all of the prominent European loan portfolio buyers ranging from tier-1 Global Investment Banks to medium sized funds acquiring discreet portfolios on the secondary market.. As such, the team have gained invaluable experience in developing loan exit strategies across Europe, including a strong familiarity with the various enforcement options, mechanics, costs and timings.

Westfort will always create collaborative partnerships with local, best-in-class advisors to maximise recoveries for clients.  We pride ourselves on our strong client focus, our unrivalled level of service and our wholly independent approach. We are committed to partnering with investors and aligning interests to ensure detailed credit risk analysis and the formulation of optimum strategy and pricing.

Our experience ranges from single loan trades to granular portfolios, secured by the full range of asset types – including operational assets such as nursing homes, self-storage and petrol stations.

We offer a broad range of restructuring services, which can be tailored in accordance with our client’s requirements:

  • Develop loan resolution strategies, including asset-level business plans
  • Restructuring scenario analysis
  • Sponsor intelligence (assessing sponsor’s financial position, asset management capability and lender co-operation)
  • Detailed loan data tape analysis and reconciliation
  • Asset summary reporting, including review of loans; borrowers; collateral; market and valuation assumptions
  • Instruction and review of third-party reports incl. valuations, environmental and property condition reports
  • Coordinate legal counsel and assist with loan and security documentation reviews
  • Bid pricing; debt and property cash flow modelling with sensitivity analysis
  • Bid tactics and pricing recommendations

Debt Management

Westfort provide detailed credit risk analysis, enabling clients to really understand current performance, as well as to identify and manage potential future risks and issues.

Our experience ranges across the capital stack and includes balance sheet loans, as well as structured products, such as CMBS, REITs and CLOs, secured by traditional and alternative asset types – including operational assets such as nursing homes and self-storage.

We offer a broad range of Debt Asset Management services, which can be tailored in accordance with our client’s requirements:

  • Analysing and stress-testing loan amendment requests.
  • Managing consensual restructurings with borrowers where the loan is stressed due to wider market conditions but the sponsor strength and long-term asset fundamentals remain strong.
  • Monitoring business plan performance and re-calibrating hurdles where applicable.
  • Preparing regular and bespoke asset summary reporting, including review of loans, borrowers, collateral, market and valuation assumptions.
  • Instruction and review of third party reports incl. valuations, environmental and property condition reports.
  • Debt and property cash flow modelling with sensitivity analysis.