Real Estate Finance

Key contact

Morton Fraser_Ross Caldwell
Ross Caldwell
Ross Caldwell is a partner in our Banking & Finance team, based in our Edinburgh office.
0131 247 1149

As with all debt capital sectors, real estate finance (REF) has seen some considerable diversification since the credit crisis and again as a result of the Covid-19 pandemic with traditional providers facing increasing competition from debt funds and other alternative lenders.

Benefits we bring to you 

Whilst diversification in this way is entirely welcome, it can lead to complexity in structure and terms. At Morton Fraser, you can be assured that our team of real estate finance lawyers has the credentials and expertise to navigate the legal and commercial nuances that can arise. Our real estate finance experts cover development and investment financings comprising traditional senior-only loans as well as more complex senior and mezzanine financings, and long-dated fixed rate debt instruments. We act for lenders, borrowers and sponsors across the full range of real estate finance transactions in a broad spectrum of sectors, including residential, student accommodation, retail, industrial, leisure & hotels, office and mixed use developments. We also have extensive experience of providing specialist Scottish advice on real estate finance transactions.

In the last year:

  • We have acted for borrowers in the restructuring of secured loans on hospitality assets
  • We have acted for the lender in the financing of a portfolio of office properties
  • We have provided Scottish advice on the financing of a portfolio of industrial assets
  • We have advised the borrower on the financing of a substantial refurbishment programme on a historic building
  • We have acted for lenders in a series of development financings
  • We have acted for the lender on the financing of a major call centre asse

Our REF lawyers work closely with experts in our Real Estate, Construction, Planning, Litigation, Corporate and Insolvency & Restructuring teams as required in order to provide a seamless and holistic service for our clients in the sector.

The strength and breadth of our experience means that we boast an inherent understanding of the real estate market and this allows us to facilitate the creation of relationships between lenders, borrowers and sponsors which help to ensure that the funding package is delivered on-time and on-budget.

The advice we provide to our clients has Clarity at its core: it is technically flawless and yet concise, focused and easy to follow. This commitment to Clarity also informs our approach to billing through which we offer transparency and flexible billing arrangements (including fixed fees and use of blended rates), so that clients can be assured that they’ll only pay what they have agreed to pay.

We are REF specialists with genuine expert knowledge, offering valuable and insightful advice.  We have grown to become one of Scotland's leading advisers in the REF market, recognised as such by independent legal directories, including Legal 500 and Chambers.