Moorfield launch the White Knight Partnership

Partnered solutions for property owners and lenders battling today’s difficult market conditions

Article posted: 13 Apr 2011

Moorfield Group has unveiled ‘The White Knight Partnership’ with a view to building innovative relationships with property owners and lenders in order to invest capital of between £10m and £100m per transaction into ‘stressed’ situations. Joint ventures, participations or comparable agreements will be structured to enable the existing owners/borrowers to retain control of their assets and to allow them the opportunity to recover and share in the lost equity value. 

Moorfield will provide comprehensive solutions to situations where it is necessary to cure a banking breach, fund capital expenditure, extend banking facilities or ensure a refinancing with new lenders before it is too late and the situation moves from ‘stressed’ to ‘distressed’. This will enable owners/borrowers to have the time to continue to actively manage the assets and recover value. Moorfield will not just be a capital provider but will also share its expertise and relationships in order to assist in enhancing value alongside the owner/borrower.

Moorfield is opportunistic and looking to partner across all real estate sectors with investment capital that can be structured as different types of debt or equity, or a hybrid of both. The White Knight Partnership will be financed through the Moorfield Real Estate Fund II (MREF II), which raised approximately £400m of private equity on closing at the end of 2007. 

To date MREF II has acquired assets totalling c£500m. A number of the MREF II assets were acquired in joint venture partnerships including the majority of the Brindleyplace estate comprising offices in Birmingham with Hines Global REIT; offices in Glasgow at the Skypark scheme (pictured) with joint asset managers Resonance Capital and office space in Leeds at West Riding House with joint asset managers Holbeck Land. MREF II continues to target opportunities in the UK.

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Posted by Janet