ASSET & WEALTH · FUND STRUCTURES
Real Estate Investment
Vehicle Framework
Jurisdiction, treaty position, financing structure, and the exit route written into the documents decide the return before a single asset is bought. We settle all four at formation, then build the operation around them — acquisition and holding structures, debt and security arrangements, asset and property management oversight, independent valuation, and investor reporting.
THE SPECIFICATION
Architecture & Audience
Real estate structures are decided by geography twice: where the assets sit, and where the vehicle sits. The interaction between the two — withholding, treaty relief, transfer taxes, exit mechanics — frequently moves the net return more than the asset selection does. This is the institution type in which structuring is not overhead; it is the product.
Developers and owners institutionalizing a portfolio; sponsors raising third-party capital against an identified pipeline; and families consolidating property holdings into a governed vehicle.
What We Deliver
A complete architecture, designed, launched, and managed
We design the holding structure — fund, REIT, or corporate — that optimises the interaction between the asset jurisdiction and the investor jurisdiction. Structuring is the product in real estate.
We position the vehicle in the domicile that maximises treaty protection and minimises withholding tax on distributions. The decision is made before a single asset is acquired.
We source and appoint an independent valuer with expertise in the relevant asset class and geography. Valuation frequency, methodology, and override procedures are agreed in writing at appointment.
We structure and negotiate the debt facilities that finance property acquisition and development within the vehicle. LTV covenants, interest coverage ratios, and margin terms are benchmarked before signing.
We source and appoint a fund administrator and auditor experienced in real assets and the chosen domicile. The administrator handles investor accounting, NAV calculation, and regulatory filings.
We draft the distribution waterfall that governs how cash flows from assets to investors across the hold period and at exit. Preferred returns, catch-up provisions, and carry splits are set at formation.
We implement the investor verification and subscription process required to admit investors compliantly. The process handles the mix of institutional, family, and sovereign investors typical in real estate vehicles.
We deploy the reporting infrastructure that tracks each property at the asset level and consolidates into fund-level financials. Investors receive the disclosure they require; the GP retains full operational visibility.
We design the exit and refinancing governance — approval thresholds, valuation triggers, and LP consent rights — that govern how and when assets are sold or refinanced. The framework is built before it is needed.
What We Deliver
A complete architecture, designed, launched, and managed
We design the holding structure — fund, REIT, or corporate — that optimises the interaction between the asset jurisdiction and the investor jurisdiction. Structuring is the product in real estate.
We position the vehicle in the domicile that maximises treaty protection and minimises withholding tax on distributions. The decision is made before a single asset is acquired.
We source and appoint an independent valuer with expertise in the relevant asset class and geography. Valuation frequency, methodology, and override procedures are agreed in writing at appointment.
We structure and negotiate the debt facilities that finance property acquisition and development within the vehicle. LTV covenants, interest coverage ratios, and margin terms are benchmarked before signing.
We source and appoint a fund administrator and auditor experienced in real assets and the chosen domicile. The administrator handles investor accounting, NAV calculation, and regulatory filings.
We draft the distribution waterfall that governs how cash flows from assets to investors across the hold period and at exit. Preferred returns, catch-up provisions, and carry splits are set at formation.
We implement the investor verification and subscription process required to admit investors compliantly. The process handles the mix of institutional, family, and sovereign investors typical in real estate vehicles.
We deploy the reporting infrastructure that tracks each property at the asset level and consolidates into fund-level financials. Investors receive the disclosure they require; the GP retains full operational visibility.
We design the exit and refinancing governance — approval thresholds, valuation triggers, and LP consent rights — that govern how and when assets are sold or refinanced. The framework is built before it is needed.
Infrastructure Selection
X-CHASE holds no commercial interest in any provider, assessing them strictly on live performance, structural fit, and renewal terms. Providers are named exclusively under formal engagement, never on a public website.