An Introduction to
Property Finance
All the Essentials

Chairman
Steve Willingham, Director Debt Markets, Real Estate Finance, Merrill Lynch

Speakers
Danny Gabay, Director, Fathom Financial Consulting
Luca Giangolini, Partner, Capital Markets Group, Cushman & Wakefield Healey & Baker
Bill Rodney, Director, i-analysis training and Senior Lecturer, Cass Business School
Steve Sprigens, Relationship Director, Barclays Property Finance
Rebecca Tomlin, Senior Manager, Real Estate Tax, PricewaterhouseCoopers LLP

Matters to be covered include:
• The economy: why it matters to you and the current economic outlook
• Principles of property finance: debt, mezzanine and equity
• Jargon busting: a thorough grounding in what ‘those’ terms and acronyms really mean
• Who does what in property finance? Who do they charge and what are their fees: investors, surveyors, valuers, lenders, brokers, advisors, quantity surveyors and monitoring agents
• Why borrow at all? The principles of gearing
• Interest rates: what they are, who sets them and their relationship to yields and rents
• Sources of property finance: a punter’s guide to the horses and their jockeys!
• Who lends on what and on what terms?
• Understanding security, risk, loan to value ratios and interest cover
• The terms sheet: the basics of lending
• The importance of a covenant: recognising good, not so good and poor covenants
• How lenders evaluate applications in the commercial market
- investment
- trading
- development?
• The art of structuring loan applications
• The time value of money: a fundamental plank of all things financial
• Cashflows and financial analysis: appraisals and techniques
• Interest: how to maximise tax deductibility
• Buying an asset or a company – the difference it makes
• Am I trading or investing – why it matters
• Sales and leasebacks: uses and misuses, some financial alternatives and mistakes occupiers and investors should avoid
• Development appraisals and problem spotting
• Deal breakers: things that can kill the finance and destroy your deal!
• Big mistakes, commonly made, that must be avoided
• Where/how can I learn more? Sources of information and knowledge