Five key things to look for when selecting a fund administrator
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Servicing your commercial real estate structuring needs
Managing commercial real estate structures across multiple jurisdictions can prove extremely challenging, entity administration and investor reporting, where the demands for more detailed and frequent updates have grown exponentially.
By partnering with Ocorian’s real estate services team you can benefit from our expertise in structuring and administering complex investments. Our professionals aren't just theoretical experts; they have hands-on experience in managing real estate investment portfolios.
We deliver efficient, proactive, and transparent solutions to investment managers, asset managers, sovereign wealth funds, pension funds, banks and private clients. We establish a wide range of structures, SPVs and funds (e.g. private, open-ended, closed-ended, public and listed funds) to hold real estate investments and manage their structures and their entities effectively.
We have invested heavily in our eFront technology to integrate property management data such as tenancy schedules and invoicing into SPV management accounts. This allows us to process high volumes of data and report data quickly and accurately, providing insights and analytics that are crucial for timely decision-making and strategic planning.
With our strong understanding of real estate market, we are also able to help secured lenders through distressed situations. We assist in achieving the most advantageous realisation of asset value.
For more information about our services, please contact our real estate team.
Our real estate team can help you
Real Estate Strategies
Watch Ocorian's Nick Terry, Executive Director and Roel Langelaar, Managing Director discuss how real estate investors are establishing and running efficient investment structures globally?
We are experts at establishing single or multi-jurisdictional real estate structures incorporating different styles and types of entities, including listed and regulated funds, SPVs, companies, partnerships and unit trusts.
With our legal expertise, global reach and technical know-how we can help you launch large and complex structures across multiple jurisdictions. We act as one business across those locations, ensuring a seamless approach.
We can work with you and your advisors to select the most appropriate jurisdiction for your structure, liaising with regulators where required to ensure an efficient launch.
We provide a full suite of real estate fund administration services throughout the fund lifecycle, including SPV administration, company secretarial, provision of directors and registered office.
Our accounting teams not only provide day-to-day fund accounting for real estate structures but are able to make all the necessary calculations of net asset value for your funds.
In addition, we will prepare fund reporting and financial statements in accordance with appropriate accounting standards.
Our company secretaries maintain statutory registers, books and records of the company, making statutory filings where required.
We also provide assistance to the board of an entity by organising AGMs, convening board meetings, producing board packs, recording decisions, assisting directors on corporate governance matters.
We provide directors and trustees to investment structures.
- Provision of responsible officer
- Annual review of investor status and legal entity status
- Prepare and file annual reports for each legal entity
- Provide support in completing and responding to requests for self-certification of the FATCA/CRS status of each legal entity
- FATCA/CRS GIIN registrations.
- Proceeds of Crime (PoC) appointments.
- XML file generation to submit FATCA/CRS reporting.
- FATCA/CRS audits
We understand how critical it is for your investors or JV partners to have as positive an experience as possible from the very start of your relationship. Our investor services team provide all the necessary onboarding, including anti-money laundering and know-your-customer checks.
Beyond this, we can prepare and provide investor reports and statements through our technology platform, eFront, and ensure that distributions are made on time.
The complex regulatory landscape for global funds can be challenging for real estate managers to oversee themselves. Our specialist funds teams monitor all local, regional and global changes ensuring that your entities remain compliant.
A consensual workout is likely to provide the lenders with flexibility for a future exit to enable the best realisation of the asset.
Our services include:
- Procurement of an independent third-party adviser
- Day-to-day administration of all asset holding entities
- Provision or procurement of directors
- Provision of all accounting services and other ancillary requirements
Our services include:
- Realisation strategy assessment / selection
- Preparation of draft realisation strategy
- Cashflow forecasts for the hold period
- Assistance in selection of appropriate property agents and other advisers through formal tender process
- Support in the assessment of appropriate marketing periods and approach
- Determination of funding requirements
- Insurance procurement
- Management and oversight of building and property management issues
- Management of the debt facility liaising
- Ultimate disposal of the asset in accordance with the agreed strategy
Why Ocorian?
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Commercial real estate expertise
Our real estate team, comprising chartered surveyors, lawyers, accountants, and corporate professionals, has extensive experience managing complex real estate investment portfolios. We understand the day-to-day realities of real estate management, ensuring high-quality service delivery across your structures.
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Real estate software
We use a highly customised version of eFront to process and analyse high volumes of property management data, such as tenancy schedules and invoicing, with exceptional speed and accuracy. This real-time data integration and consolidation across entire portfolios empowers you to make informed decisions and strategic plans.
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Global consistency across 14 jurisdictions
Our global reach across 14 jurisdictions enables us to deliver high-quality, consistent real estate fund services across diverse structures and different jurisdictions. This is crucial for real estate managers who operate across different jurisdictions or are seeking to expand their investment portfolios.
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A frequent scenario we encounter involves global property managers approaching Ocorian with intricate structures featuring highly detailed tenancies and lettings across their portfolios. Each month, these portfolios can generate a substantial volume of data, ranging from 3,500 to 4,000 line entries.
Our clients require Ocorian to:
- Aggregate this data from the property manager
- Integrate it into our systems
- Produce management accounts for each of the SPV entities
- Create a consolidated CSV file using bespoke global reporting templates
- Deliver this information by the ninth business day of the following month
The technological investment necessary for a property manager to provide sophisticated investor solutions of this nature can amount to millions of pounds. However, due to our global scale and expertise, Ocorian is able to deliver these outputs typically around the fifth or sixth day of each month.
This level of efficiency and precision is achieved through the seamless integration of eFront which we use for real estate fund administration and entities. We effectively integrate property management data, such as tenancy schedules and invoicing, into SPV management accounts, which are regularly updated and consolidated across entire portfolios.
Our significant financial commitment ensures that all our clients benefit from cutting-edge technology implemented on their behalf to efficiently handle complex, high-volume data management tasks.
Our priority is to guarantee the consistent delivery of accurate data, regardless of the location or asset class of our clients' structures. This strategic investment not only enhances our service delivery but also reinforces our commitment to supporting our clients' diverse and evolving needs.
When selecting a fund administrator, global real estate managers should prioritise three key aspects to ensure they choose a partner that can effectively support their investment goals:
- Technology and data capabilities: The chosen fund administrator should leverage advanced technology that allows for the handling of complex data with high granularity. This technology should enable the administrator to process and report data quickly and accurately, providing real-time insights and analytics that are crucial for timely decision-making and strategic planning.
- Jurisdictional reach and expertise: It is essential for the fund administrator to have a robust presence across multiple jurisdictions. This wide-reaching capability ensures that they can manage and navigate the varying regulatory and compliance frameworks that differ from one region to another. Such expertise is particularly valuable for real estate fund managers who operate internationally or plan to expand their investment portfolios across borders.
- Qualified and experienced personnel: The effectiveness of a fund administrator also heavily depends on the expertise and knowledge of its staff. Real estate fund managers should look for a team that not only understands the technical aspects of fund administration but also possesses a deep insight into the real estate market. The team should be adept at tailoring their services to meet the specific needs of their clients and capable of providing informed guidance and support.
By focusing on these three areas, real estate managers can select a fund administrator that not only meets their current operational needs but also supports their strategic vision, enhancing the overall performance and efficiency of their investment activities.
Over the past two decades, the global real estate investment landscape has undergone a profound transformation, moving away from traditional, often cumbersome management processes to embrace more sophisticated, agile methodologies. This shift is particularly evident in the realm of entity administration and investor reporting, where the demands for more detailed and frequent updates have grown exponentially.
- Embracing private equity influences
A significant driver of this change has been the influx of private equity-backed real estate investors. These investors have brought with them a penchant for the private equity sector's rigorous standards, which has permeated the real estate industry. The result is a more dynamic market where investment managers are increasingly adopting private equity-like characteristics in their operations. This includes a stronger focus on detailed, regular reporting and a proactive approach to management that aligns with the fast-paced, results-oriented nature of private equity.
- A requirement for multi-jurisdictional expertise
The complexity of navigating multiple legal jurisdictions is a notable challenge in European real estate investment. Investment structure administrators like Ocorian have responded by enhancing their capabilities to ensure smooth transitions across various legal landscapes, including those in Cayman, Jersey, BVI, Luxembourg, the Netherlands, the UK, Ireland, and more. This extensive geographical coverage ensures that clients receive consistent, high-quality service, regardless of the complexity or location of their investment structures.
- Diversifying of investment portfolios
The types of properties attracting investment have also diversified significantly. While traditional assets like office, industrial, and retail properties remain staples, there is a growing interest in alternative sectors such as purpose-built student accommodation (PBSA), build-to-rent (BTR) residential assets, and leisure properties, including hotels and healthcare facilities. This diversification reflects broader economic and social trends, including demographic shifts and changing investor preferences.
- A need to enhance operational efficiency
In today's economic climate, there is an increased scrutiny of operational costs and workforce efficiency for real estate investment managers. Businesses are looking to better understand how their time is utilized and how to enhance the value derived from their existing staff. This introspection is leading to more strategic deployment of resources, where routine tasks are outsourced to allow team members to focus on higher-value activities such as deal analysis, investor relations, and strategic asset management.
For more information on our real estate fund services, please contact the team.
Ocorian offers a wide range of real estate strategies to meet the diverse needs of their clients. These strategies include:
- Commercial
- Residential
- Social housing
- Student housing
- Distribution warehousing
- Construction & standing investments
- Real estate debt
- Distressed real estate
Ocorian offers a wide range of real estate structures to meet the diverse needs of their clients. These strategies include:
- Joint ventures
- Corporate
- REITS
- HoldCos
- SPVs
- Listed vehicles
- Partnerships
- Unit trusts
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