Beyond Banks: The Rise of Private Debt in Real Estate Finance

PRAISE FOR BEYOND BANKS “This book is a must-read for anyone who wants to learn about the evolution of private credit and asset-backed lending, and how the structural shock of the 2008 financial crisis, innovation, and technology spawned the development of the non-bank lending market that is now genuinely transformative for borrowers and investors alike.” —Christian Faes, co-founder, LendInvest; CEO, Faes & Co “Here is a book that explains clearly the workings of new and exciting world of real estate finance and how it is completely transformed by technology. I highly recommend it to anyone who is engaging with real estate. I will definitely be using it in my class.” —Nir Vulkan, Associate Professor, Said Business School, Oxford, Director of the Oxford FinTech programme A PRACTITIONER’S GUIDE TO REAL ESTATE PRIVATE DEBT ACROSS GLOBAL MARKETS Beyond Banks: The Rise of Private Debt in Real Estate Finance provides a case study-driven examination of how non-bank lending is transforming property finance worldwide. Drawing on real-world examples across multiple market cycles, geographies, and deal structures, this book explores the evolution of real estate private debt, new lending models, and risk management strategies that define this rapidly growing segment of the credit market. Beyond Banks details the mechanics of deal structuring and risk underwriting from the practitioner’s perspective, analyzing how private credit fits into modern portfolio construction. The book takes a global view, comparing market trends, regulatory frameworks, and private credit opportunities across different jurisdictions, giving readers the analytical context and practical knowledge they need to evaluate lending opportunities and develop informed investment strategies in diverse real estate markets. Designed for property developers seeking alternative funding, investors exploring fixed-income opportunities in private credit, and finance professionals expanding their knowledge of non-bank lending, this book delivers the practitioner-led insights and global analysis required to navigate real estate private debt with confidence and precision. A practical guide to private debt investing in real estate markets worldwide In Beyond Banks: The Rise of Private Debt in Real Estate Finance, senior finance professional Roxana Mohammadian-Molina delivers an authoritative examination of private credit's expanding role in property development. Drawing on her experience at Barclays, Morgan Stanley, and eight years in real estate private debt, she offers a case study-driven approach spanning multiple market cycles, geographies, and deal structures. Beyond Banks explores the evolution of real estate private debt, examining new lending models, risk management strategies, and the role of private credit in modern portfolio construction. The book connects investor perspectives with practitioner insights on deal structuring and risk underwriting while analysing market trends, regulations, and private credit opportunities across different jurisdictions worldwide. Readers will also find: Detailed case studies providing practical insights from real-world transactions across various market cycles, geographies, and deal structures Analysis of emerging lending models and their implications for both investors seeking fixed-income alternatives and developers seeking funding Risk management strategies and underwriting frameworks essential for evaluating and structuring private debt investments in real estate Global perspective on regulatory environments and market trends shaping private credit opportunities across different international jurisdictions Thought leadership on portfolio construction and how private debt fits within broader investment strategies for institutional investors Ideal for real estate developers seeking funding, investors exploring fixed-income alternatives, and finance professionals expanding their private credit expertise, Beyond Banks provides the practical knowledge and global perspective needed to navigate this rapidly evolving sector.