Selected Real Estate Private Debt Bond
Private-debt programme linked to selected real-estate developments, structured through the identified Luxembourg group securitization vehicle.
Our approach.
The Selected Real Estate Private Debt Bond programme is one of the two currently active proprietary private-bond programmes and provides eligible investors with private-debt exposure linked to selected real-estate developments. The programme is issued by the identified Luxembourg group securitization vehicle and offered through definitive private-placement documentation. CGPH Banque d’affaires acts in an advisory, structuring and selection capacity.
Real-estate developments generate defined cash-flow milestones — construction phases, delivery, commercialisation, refinancing — and require capital that fits those milestones. Financing them through a documented private-bond programme aligns the financial instrument with the underlying operational timeline, and gives investors a structured entry point into selected developments.
The Selected Real Estate Private Debt Bond programme is designed around that alignment. It is structured through the identified Luxembourg group securitization vehicle for legal consistency, includes independent third-party valuation of the underlying assets and enforceable security rights, and is offered under definitive private-placement documentation reserved for eligible investors.
The programme is built around the identified Luxembourg group securitization vehicle for governance consistency, third-party valuation of the underlying assets, a security package designed with qualified external legal counsel, and enforceable rights that support the position of investors up to repayment.
- Eligible institutional and professional investors
- Family offices seeking income supported by real-estate collateral
- Qualified investment vehicles positioned in real-estate credit
- Structured real-estate credit exposure
Investors seeking exposure to real-estate credit through a documented private-bond structure.
- Stable European real-estate allocation
Family offices seeking asset-backed exposure to selected European real-estate developments within a documented framework.
- Scale
- Mid-market European private bond programme referencing a selected real-estate private-debt pool.
- Timing
- Investment horizon defined by the programme’s definitive documentation.
- Geography
- Luxembourg-centric structuring with distribution towards Continental European institutional investors and selected international allocators.
- Underlying: selected real-estate developments
- Format: private-debt notes issued by the identified Luxembourg vehicle
- Structural elements: third-party valuation of the underlying assets
- Investor rights: enforceable security rights and negative-pledge protection under the programme documentation
- Governance: identified Luxembourg SPV as issuer
- Digital subscription channel on blockchain via Altherum Tokenization, within the same eligibility and documentation framework
Digital subscription via Altherum Tokenization
The notes of the active programmes can also be subscribed in digital form through Altherum Tokenization, the group’s tokenization platform, where each note is represented as a digital security recorded on blockchain. The digital channel changes neither the legal nature of the instruments nor the eligibility framework: offers remain reserved exclusively for eligible institutional, professional and otherwise qualified investors, and are carried out in reliance on the exemptions from the obligation to publish a prospectus available under the applicable European prospectus regime — including offers addressed solely to qualified investors — and equivalent private-placement exemptions. All rights, terms, risk factors and eligibility conditions remain those defined in the definitive private-placement documentation of each programme, issued by the identified Luxembourg group securitization vehicle.
- 01Qualification
We confirm investor eligibility and align the review scope with the mandate.
- 02Documentation
Definitive private-placement documentation, including security terms, is shared for review.
- 03Subscription
Subscription proceeds under the applicable terms and is settled through the identified operational counterparties. Subscription may be completed in traditional form or digitally via Altherum Tokenization, under the same documentation.
- 04Follow-through
Periodic reporting and dialogue continue for the life of the notes, coordinated with the paying-agent and reporting counterparties named in the documentation.
- Legal consistency via Luxembourg
The identified Luxembourg SPV governance framework supports investor rights under recognised European legal standards.
- Independent valuation
Underlying real-estate assets are subject to independent third-party valuation prior to structuring, as described in the programme documentation.
- Enforceable security
Investor rights include enforceable security rights defined in the programme documentation.
- Legal
Programme documentation, SPV governance and security arrangements are prepared and maintained by qualified external legal counsel.
- Valuation
Independent third-party valuers are engaged to assess the underlying assets in accordance with the programme documentation.
- Operational
Paying-agent, calculation-agent and reporting functions are held by the identified counterparties named in the documentation.
- Real-estate anchored
Every position is linked to selected real-estate developments described in the programme documentation.
- Institutional structuring
Structured through the identified Luxembourg SPV, with third-party valuation and enforceable security arrangements.
- Eligible investors seeking asset-backed European real-estate credit exposure.
- Allocators comfortable with senior secured private-debt structures.
- Institutional or professional investors under the definitive documentation.
- Direct equity investors in single real-estate projects.
- Categories eligible only for retail investors.
- Investors requiring daily secondary-market liquidity.
- Product specifics — including tenor, structure, security arrangements and pricing — are set by the definitive documentation and reviewed internally before external presentation.
- Access is reserved to eligible professional and institutional investors as defined by the applicable law and the programme documentation.
- How are the underlying real-estate assets selected?
- Assets are selected within the CGPH Group perimeter and subject to independent third-party valuation prior to inclusion in the programme, as described in the definitive documentation.
- Which jurisdiction governs the vehicle?
- The programme is structured through the identified Luxembourg group securitization vehicle. Applicable legal terms are set out in the definitive documentation.
- What security is available to investors?
- Security arrangements, including negative-pledge protection and enforceable security rights, are defined in the programme documentation and prepared by qualified external legal counsel.
- Who is eligible to subscribe?
- Subscription is reserved for eligible institutional and professional investors, family offices and qualified investment structures as defined by the applicable law and the programme documentation.
- Can the notes be subscribed on blockchain?
- Yes. Subscription can be completed digitally through Altherum Tokenization, where the notes are represented as digital securities recorded on blockchain. Eligibility is unchanged — the offering remains reserved for eligible institutional, professional and otherwise qualified investors under prospectus-exemption regimes — and the definitive private-placement documentation of each programme remains the sole source of terms and rights.
Any private bond referenced is issued by the identified Luxembourg group securitization vehicle and offered through definitive private-placement documentation, reserved for eligible professional and institutional investors. CGPH Banque d’affaires acts in an advisory, structuring and selection capacity.