Turnaround & Sub-Performing Assets
Decisive action for stressed and distressed real estate
Real-estate-native turnaround, restructuring and recovery advisory for lenders, sponsors and stakeholders, from the first missed covenant through to full resolution.
Led by Charlotte Coates, Partner
Restructuring, workouts and the resolution of sub-performing loans, lender and sponsor side.
When a loan or asset starts to underperform, the window for a consensual outcome closes fast. Turning Point Capital Advisory provides senior-led turnaround and recovery advisory across UK commercial real estate, stabilising challenged assets, restructuring facilities that refinancing alone cannot fix, and running consensual sale and sub-performing loan processes that protect value for every stakeholder.
Unlike generalist restructuring houses, we are real estate specialists first. We combine credit expertise, asset management depth and technical development capability under one roof, so the people diagnosing the problem are the same people delivering the fix.
Who we act for
Lenders
Banks, debt funds and alternative lenders needing an independent view on a stressed exposure, a workout strategy, or a managed route to redemption without the cost and value destruction of enforcement.
Sponsors & borrowers
Owners facing covenant pressure, refinancing gaps or operational underperformance who need a credible plan and an experienced negotiator between them and their lender.
Investors
Funds and family offices acquiring distressed or special-situation assets who need buyside diligence and a deliverable turnaround plan.
The value to a fund
Not just the assets you own. The ones you buy next.
Charlotte Coates works with lenders on their sub-performing loans. Sales of sub-performing assets to our fund clients run through Marcus Emadi's desk, and our specialist team can then turn them around.
- 01
Lenders
Sub-performing loans that lenders need to resolve, worked through by Charlotte Coates.
- 02
Your acquisition
Sales of sub-performing assets to our fund clients, run through Marcus Emadi's desk.
- 03
Reposition
Turnaround and development advice to stabilise the asset and lift NOI.
- 04
Refinance or exit
Debt advice to refinance or sell at the stabilised value.
Sales run through Marcus Emadi's desk, separate from the advisory work. In any sale we act for one side of the deal and manage the wall.
What we do
Challenged Asset Troubleshooting
Rapid portfolio triage identifying distressed, stressed or stable assets, mapping lender and stakeholder exposure, assessing domino risk, and leading negotiations with the lender's restructuring team including standstill and forbearance.
Financial Restructuring
Full options analysis (extend, amend, equitise or partial disposal), restructuring plan, CVA and administration risk assessment, PropCo/OpCo review, and oversight of implementation and documentation through to a stabilised exit.
Consensual Sell-Side & Sub-Performing
Consensual sale processes managed for lenders from pre-launch to completion: due diligence packs, pricing strategy, duty of care negotiation, agent oversight, data-site administration and negotiation lead, plus sub-performing loan diligence and provisioning support.
Turnaround Buyside Advisory
For investors acquiring distressed opportunities: sourcing and appraisal, gap-filling incomplete receiver information, cost-to-complete validation, restructuring exposure review, scenario-based pricing and delivery of the post-acquisition business plan.
Interim & Outsourced Asset Management
End-to-end asset management of portfolios: lease management, service charge and arrears, capex programmes, compliance, lender reporting and board-level financial reporting, with resourcing that scales as the portfolio grows or contracts.
Early Warning & Covenant Monitoring
The cheapest workout is the one that never becomes one. We monitor covenant compliance and early-warning indicators across live facilities, flagging deterioration to lenders and sponsors before it becomes distress.
Why Turning Point Capital Advisory
Real estate is the whole firm
The large restructuring houses treat property as one workstream among many. We live in UK CRE, with the lender relationships, pricing instincts and operational asset expertise that generalists buy in.
Consensual first
Enforcement destroys value. Our starting point is always the route that keeps borrower, lender and asset moving in the same direction, and when enforcement is genuinely unavoidable we advise on timing and the right appointment, then hand over cleanly.
Partner-led
The partner you meet on day one runs the case to close-out. Our practice is led by a partner who was Co-head of Real Estate Workout for EMEA at JLL, with £10bn+ of assets managed and £6bn+ of property and loan sales across 10 jurisdictions. Mid-market situations of £15-80m get partner-level attention throughout.
One firm across the lifecycle
Because Turning Point Capital Advisory also runs Debt Advisory and Development Advisory practices, a recovery mandate can move seamlessly into a refinance, a completion strategy for a stalled scheme, or ongoing asset management, without introducing a new firm at every stage.
A situation that needs a steady hand?
Early conversations cost nothing and often change the outcome. Speak to us in confidence.
Enquiries
Contact Charlotte for any enquiries
Charlotte Coates
Partner
Real estate turnaround, workouts and loan sales. Formerly Co-head of Real Estate Workout EMEA at JLL, with £6bn+ of property and loan sales across 10 jurisdictions. MRICS chartered surveyor and registered property receiver.