FINANCE

You only finance well what you know how to build

The Finances sector carries the financing of real estate development operations in Luxembourg and Belgium. It addresses neither the public nor private individuals. It finances professional developers through a debt vehicle reserved for well-informed investors, and it relies on the technical competence of the group to assess each file.

Our role

Lending against what we are able to verify

A group that has conducted operations for fifteen years reads a drawing, a programme and a construction budget. It is that reading, and not a statistical model, that grounds our financing decisions. Ingénieurs Conseils assess technical feasibility and cost price before a file is presented for financing, and their opinion is placed on the decision file.

We finance only operations we would be capable of conducting ourselves. That rule is the only one that counts, and it turns away more files than it retains. It also explains the apparent slowness of our assessment: a technical opinion cannot be replaced by a summary note.

Our scope

Luxembourg and Belgium, to the exclusion of any other market

These are the two markets we practise in, where we travel to the site, and where we know the permit procedures, the real processing times and the contractors. A financing granted on a market one does not visit is a financing one does not control. This restriction is not a stage before expansion: it is constitutive of the method.

Security

Real collateral, and release against verified progress

Each financing is secured on the asset it finances. Registered security, release of funds by stages of completion, verification of progress statements on documents and on site. Funds are not released against a forecast programme but against a statement of progress established by an engineer of the group. This is where our technical competence produces its most direct effect.

Governance

Tamias does not supervise itself

The vehicle is administered by an alternative investment fund manager authorised in Luxembourg and external to the group. The depositary, the central administration and the audit are likewise entrusted to independent third parties. The group assesses and monitors the files; it does not decide alone, and it does not supervise itself.

The vehicle finances no operation carried by the group or by any entity it controls. That exclusion follows from the regulation applicable to the authorised manager, it is extended to the sponsor by the lending policy, and its observance is verified by the depositary. The group's own operations are financed elsewhere, without recourse to the vehicle.

For a developer

What a file must contain, and how quickly we reply

We finance operations carried by companies, in Luxembourg and Belgium: land acquisition, construction costs, completion. A file is presented with the title deed or the preliminary sale agreement, the building permit or the state of the procedure, the budget, the programme and the sales plan. We reply in principle within a few days. Where the answer is negative, we say so clearly and set out the reasons.

For an investor

Reserved access, subject to verification

The vehicle is reserved for well-informed investors within the meaning of the law of 23 July 2016 on reserved alternative investment funds. This page describes an activity. It constitutes neither an offer, nor a solicitation, nor investment advice. No documentation is provided without prior verification of the eligibility of the person requesting it.

What we do not do

A legal limit, not a commercial one

We do not lend to the public. The granting of credit to the public is an activity reserved to authorised financial sector professionals, under Article 28-4 of the law of 5 April 1993 on the financial sector. We do not exercise it. We finance neither private individuals, nor the acquisition of a home, nor consumer credit.

Contact

Tamias General Partners Sàrl

22, Zone Industrielle
8287 Kehlen
Luxembourg

Tamias Financial Advisors Sàrl