haku: @keyword real estate development / yhteensä: 24
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| Tekijä: | Lüiste, Maido |
| Työn nimi: | Raising capital for real estate development projects using mezzanine finance |
| Julkaisutyyppi: | Diplomityö |
| Julkaisuvuosi: | 2015 |
| Sivut: | viii + 44 s. + liitt. 2 Kieli: eng |
| Koulu/Laitos/Osasto: | Insinööritieteiden korkeakoulu |
| Oppiaine: | Real Estate Investments and Finance (M3009) |
| Valvoja: | Viitanen, Kauko |
| Ohjaaja: | Toivonen, Saija |
| Elektroninen julkaisu: | http://urn.fi/URN:NBN:fi:aalto-201506303481 |
| Sijainti: | P1 Ark Aalto 2922 | Arkisto |
| Avainsanat: | real estate finance mezzanine finance real estate development real estate |
| Tiivistelmä (eng): | In financial world, investors are constantly seeking to earn higher return on equity on their invested capital. Mezzanine financing is a possibility to initiate projects using less equity and thus earn higher return for the shareholders. It is also a way to fill the gap between equity and senior loan in capital intensive projects. This research focuses on the use mezzanine finance in real estate sector and on the possibilities to finance real estate development projects in Estonia using mezzanine finance. The study covers the history and current state of mezzanine finance in Estonia by interviewing top Estonian financial specialists. The results of the study indicate that the history on the use of mezzanine finance in Estonia has been extremely low even though financial advisers have been offering this type of financial advice for years. The analysis on the conducted interviews indicates that mezzanine financing could mostly be received from smaller local banks in Estonia, but apart from that possibility mostly in the form of corporate bond. The results of this study contribute major part to the little academic evidence that has been recorded on the topic of Estonian financial market to date. It contributes to the understanding why Estonian real estate development companies have not used mezzanine finance as widely as it has been used in other European countries. |
| ED: | 2015-08-16 |
INSSI tietueen numero: 51890
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