William Blair’s Commercial Real Estate Finance (CREF) team is dedicated to sourcing debt solutions, sale-leasebacks and private equity for commercial real estate developers, investment firms and owners. For the past 20 years, William Blair has executed over 525 transactions for the financing of commercial real estate.
Credit Tenant Lease Financing (CTL)
Our CTL program allows commercial real estate property developers and owners to fully leverage the lease rental stream from a single-tenant property leased to an investment grade entity. CTLs can provide loan-to-value (LTV) ratios up to 100 percent, 1.00x to 1.05x minimum debt-service-coverage, nonrecourse financing to the borrower, one-step construction and permanent loan financing, and an amortization that typically corresponds to the initial lease term (or can also be structured with a longer amortization/balloon).
Our commercial real estate professionals provide single and multiple property solutions that allow companies to more optimally allocate capital resources to their core business. Transaction structures are specifically tailored to align with a company’s business and financial strategy.
Real Estate Private Equity Capital
We provide access to many types of institutional equity investors including real estate private equity funds, asset managers, family offices, insurance companies, pension funds and endowments. We source general and limited partnership capital for specific projects, discretionary fund raises, and strategic/programmatic joint ventures.
Structured Private Placements
Our bankers are experienced in structuring private placements for real estate transactions that qualify for an investment grade rating based on the deal structure as opposed to the credit of the tenant. Examples of these include ground leases underlying multi-tenant office buildings and hospitality properties, on-campus student housing and tax credit financing. In addition, we source debt financing for non-real estate projects that have a fixed, long-term contractual payment from an investment-grade credit. Examples include equipment financing and installment purchase contract financing.
CREF Team Expertise
Our bankers have extensive experience sourcing capital for commercial real estate including the following types of assets:
||Corporate HQ Buildings
Medical Office Buildings
||Big Box Retailers
||Distribution Centers / Warehouses
Manufacturing / Assembly Facilities
Wastewater Treatment Facilities
||Hospitals / Clinics
||Suburban / Urban
Value-Add / Core
Multi-Story / Garden / Walk-Up