For owners, developers, institutions and sponsors with a ground lease or leasehold transaction above what we buy on our own balance sheet. We structure it, paper it to the standard every leasehold lender uses, arrange the debt, and take the fee position to every buyer whose box it fits.
An owner with a large site who wants land value out without selling the building or the business.
A developer whose deal is above our check and who needs the land cost out of the equity and a leasehold loan that actually closes.
An institution or nonprofit that can lease but cannot sell, running a process it will live with for 99 years.
A sponsor or syndicator holding a ground lease that needs to be financeable, or a leasehold that needs debt placed.
| Work | Deliverable |
|---|---|
| Structure | The split: rent as a share of NOI, cap, escalations, coverage, what it does to the equity requirement |
| Paper | A ground lease written to the published agency leasehold-mortgagee standard, so the leasehold lender says yes the first time |
| Debt | Leasehold financing arranged with lenders who close ground-leased collateral; fee earned at closing of that loan |
| Sale | The fee position run to the full list of ground-lease buyers, on one package, one timeline, competing |
We buy land for our own account. On an engagement, we do not bid on the land we are engaged to sell, and the engagement letter says so. If a deal is better served by us as principal than as advisor, we say that first and you are free to take the analysis elsewhere. A second opinion that cannot tell you to go elsewhere is not one.
Scoped engagements and document reviews are described at advisory engagements. The lender standard we write to is summarized at what leasehold lenders require.
Valor provides real estate advisory and arranges real estate loans. Valor is not a broker-dealer and does not offer, place or raise securities. Nothing here is legal, tax or investment advice.
Above roughly $35 million of total capitalization, or a land check above what we write ourselves. Below that we are usually the buyer.
A structuring fee scoped in advance, a fee on the leasehold loan earned at its closing, and a fee on the fee sale. No ticket required and no promote.
Not on an advisory engagement. We do not bid on land we are engaged to sell, in writing.
Yes. That is usually the piece that decides whether a ground-leased development closes, and it is where most ground-lease capital providers leave the sponsor alone.
No. We sell real estate interests and arrange real estate loans. We are not a broker-dealer.
The deal: stabilized NOI, total cost, the land basis, and whatever lease or term sheet exists. We will tell you who buys it and at what cap before any engagement is signed.
We will tell you who buys it, at what cap, and what the lease has to say for the leasehold lender to close. Then you decide whether to engage us.