Capital structure.
All briefings on Capital structure.
- United Kingdom market note
The UK 2026: Navigating the Refinancing Wave with High-Conviction Equity
The UK maturity wall is generating the cleanest recapitalisation pipeline in a decade. Industrial supply remains acute, residential growth compounds to ~25% by 2030, and political clarity has restored the yield-to-gilt spread.
14 Apr 2026 Read - Pan-European deep dive
Mezzanine and Preferred Equity: Filling the 2026 Refinancing Gap
Approximately €120 billion of European real-estate debt matures in 2026. Preferred equity at 10%–12% is the cleanest instrument for bridging the valuation gap and keeping senior lenders at the table.
6 Mar 2026 Read - Pan-European market note
Tokenized Real-Estate Equity: The Rise of Digital Fractionalisation
MiCA has given institutional tokenisation its regulatory baseline. Projections place the tokenised real-estate market above $1.4 trillion globally in 2026, with European prime stock entering the structure at scale.
2 Mar 2026 Read - Pan-European deep dive
The Basel IV Impact: Why Equity is the New Debt in 2026
Basel IV has restructured the European capital stack. Senior LTVs have compressed from 70% to 55%, and the 15-point funding gap is now the single most important fact in European real-estate finance.
25 Feb 2026 Read - Pan-European developer playbook
How Early-Stage Equity Accelerates the Start of Construction
Forward funding is the structural response to a permit-to-construction timeline that has doubled across Europe. Signed at the SPA stage, milestone-funded, and designed to let the developer run documentation and financing in parallel.
4 Dec 2025 Read - Pan-European developer playbook
How Developers Shorten Project Timelines by 6–12 Months by Bringing in a Partner at the Land Stage
Early equity partnership changes the sequence. Fremdfinanzierung moves from the end of the timeline to the middle of it, approvals run in parallel, and cash-flow gaps close before they disrupt the schedule.
2 Dec 2025 Read