Snapshot – GERMANY
A group of offshore investors who invested in two separate funds found themselves in breach of "loan to value" covenants. The Fund Manager under strong pressure from the senior debt providers to each fund had, in principle, acceded to that the assets of these separate funds be cross-collateralised.
Greenside Solutions advice was simply that the Fund Manager would be in breach of its fiduciary duty to the non-common investors to each Fund if the proposal was enacted. The harsh reality was that much, if not all, of the investment was lost and, in the absence of new equity injection, the lenders would inevitably pursue insolvency.
Snapshot – SPAIN
An International Bank had entered into a large syndicated loan which had been arranged and led by a consortia of Spanish Banks and Cajas. However, whilst its exposure to the facility was less than 1%, requests were made to the Bank from time to time for pro-rata increases under the documentation - which looked increasingly like throwing "good money after bad". There was limited management information available and no direction from the major lenders.
Greenside Solutions advice led to the debt eventually being sold at a discount to the Consortia.
Snapshot – UNITED KINGDOM
A Family Office was looking for alternative investments in the real estate arena notwithstanding the fall in capital values in the present downturn.
Greenside Solutions recommended that mezzanine finance provision would provide excellent returns with its pricing being well above the risk being undertaken given the funding gap in the marketplace for sound developments and investments.
Snapshot – CENTRAL & EASTERN EUROPE
A Middle Eastern Corporate investor wanted to develop its real estate portfolio across a number of sectors but did not wish to establish an infrastructure of offices.
Greenside Solutions introduced potential partners with platforms capable of delivery.
Snapshot – EUROPE
With the downturn, an asset management business had been slow to adapt whereby its shareholders had been forced to fund cashflow shortfalls.
Greenside Solutions assisted the management in making the necessary hard decisions in respect of staffing levels, reducing overheads to "need to have", and restructuring the balance sheet with the shareholders support – solvent from insolvent.
Snapshot – UNITED KINGDON
A Family Office’s main activity was in the leisure sector and, whilst there were property assets within its substantial asset base, it did not have a coherent real estate strategy for either acquisition or disposal.
Greenside Solutions, in conjunction with the senior Family Board Members, produced a deliverable and focussed strategy. This led ultimately to the successful acquisition of some 1.5 acres of Central London commercial real estate.
Snapshot – UNITED KINGDON
An entrepreneur had virtually retired leaving the management of some key associated and successful businesses to an executive team who, as time progressed, were shown to be unfit for the task.
Greenside Solutions managed to prevent an inexorable slide into administration and bought the time necessary for the entrepreneur to reestablish ownership and direction once more.
Snapshot – POLAND
A joint venture had invested in the acquisition of 50 acres of residential land with pure equity but with the downturn the project became ‘mothballed’.
Greenside Solutions is now looking to revise the master-plan and financial plan whereby the infrastructure can be phased with individual sections being sold either to individuals or smaller construction companies as a means of recouping the original investment.