Property Investment Management
From portfolio to listed fund.
Most family offices and holding groups own their real estate the way they built it: privately, asset by asset, under-leveraged and illiquid. Crosspoint's advisory brings together the property owner, an international property investment manager and the banks to turn that portfolio into a rated, financed and ultimately listed institution, unlocking capital and international investors while the family keeps control and income.
For family offices & holding groups
The pathway
Five steps, one destination
- 1
Consolidate & structure
Contribute the portfolio in-kind into a single regulated, Shari'ah-compliant, ESG-focused vehicle, with institutional governance (advisory, investment and Shari'a boards) and a professional investment manager. One portfolio, one balance sheet, one standard.
- 2
Optimise & certify
Active management to grow value and cashflow (value engineering, repositioning, stronger tenant profiles) with ESG certification and diversification, including European assets funded by low-cost Euro debt to cut single-market concentration.
- 3
Achieve an investment-grade rating
Position the vehicle for a rating from Moody's, S&P or Fitch at conservative leverage (≤ 40% LTV): the credential that opens institutional debt and equity markets.
- 4
Access the capital markets
Issue sukuk (bonds) or structured credit against the rated portfolio to release liquidity, recycling capital into new assets without selling the crown jewels.
- 5
List & unlock value
Take the vehicle to a regulated listing (a REIT-like fund on an international exchange) to crystallise value, welcome GCC and international shareholders, and create permanent liquidity.
The advisor's role
Two strong players, one owner, and a lot to coordinate.
Two of these players are strong and external (the property investment manager and the banks) and both, reasonably, have their own interests. The advisor is the independent party whose only client is the owner, and whose work is the glue between two worlds that don't naturally speak the same language: property management and the capital markets.
The players around the owner
International property investment manager
The strategic seat. Overall responsibility for the portfolio (investment strategy, capital structure, value and liquidity, ESG and reporting to investors) and oversight of the commercial asset managers and technical property managers below it.
The owner's property teams
The practical leg-work: day-to-day commercial asset management and technical management of the buildings. In a family office these are the family's own or appointed external managers, working under the investment manager.
The international banks
The capital markets: arranging and distributing the sukuk (bonds) and, in time, the listing, the same role, and the same investor-side alignment, set out in Debt Capital Markets.
What Crosspoint does
The same glue as a sukuk, with a twist
In a bond or sukuk the advisor aligns the banks, lawyers, scholars and rating agencies for the issuer. Here there is a second strong expert in the room (the investment manager), so the coordination runs in two directions at once: the deal and the portfolio.
Aligning the portfolio with the capital markets
The manager optimises the portfolio; the banks need something rateable, financeable and, later, listable. The advisor makes sure the capital structure, leverage, ESG and hold/sell calls actually produce what a rating agency, a sukuk investor and a listing will require.
Negotiating both mandates for the owner
Selecting and instructing the property investment manager, and mandating the banks, on terms that serve the owner, not the providers.
Carrying the coordination
A rated, financed and listed vehicle needs the manager, the banks, lawyers, rating agencies, scholars, auditors and the owner all moving to one timetable. That coordination between property management and capital markets is most of the work, and where these processes usually stall.
The honest broker
As in debt capital markets, the advisor is the only party whose fee doesn't depend on keeping a management mandate or placing the paper. It represents the owner, and only the owner.
From the CFO's chair, not the sidelines
This is not advisory from the outside. For five years as Group CFO of Dar Al Arkan, a Tadawul-listed real-estate developer, running a multi-billion-dollar property portfolio, issuing sukuk and engaging the equity markets was the day job, not a special project. The coordinating role set out here is one Crosspoint has already sat in, from the CFO's chair.
Holding a large real-estate portfolio?
There is almost certainly value locked inside it. A short, confidential conversation is the place to start mapping the pathway.