We are pleased to present CNZ as a new company in the area of Sales and Advisory in the Real Estate market of Serbia. The company is particularly focused on new residential developments and has a Project Finance Advisory department to support and guide investors in Serbia.

Whether you are an Developer in need of a dedicated support to develop a project or an Investor willing to purchase real estate assets, CNZ RE&A offers a robust Team of independent seasoned professionals covering most aspects of a transaction. From technical to administrative and financial aspects, we help you defining a strategy, negotiate advantageous financial packages and collaterals in order to optimize revenues on your investments.


We can support you in particular regarding the following aspects of a deal:

  • Analyzing the project’s feasibility study from a financial point of view (Financial Institutions’ feasibility)
  • Analyzing the project’s valuation from a financial point of view (Financial Institutions’ feasibility)
  • Meeting with the Developer/Investor in order to understand the needs of the project and their expectations (residential, office, retail, logistics and hotel sectors)
  • Presentation of the generally applied Banks’ position based on the feasibility study/valuation and further analysis including assumed DSCR calculations for Banks’ purposes (including the Developer’s/Investor’s feasibility based in generally applied Banks’ assumptions)
  • Close cooperation with the client in order to propose a financing structure for the project and detailed DSCR calculations, including the possibility of syndication / club deal with local and/or foreign creditors (residential, office, retail and hotel sectors)
  • Advising Developers/Investors for the purchase, construction and leasing of industrial facilities in Serbia to foreign companies. Financial engineering and revenue optimization
  • Analysis of Banks’ portfolio for office, retail, residential and logistic projects as well as hotels and the financing possibilities of the project
  • Consulting and support regarding the presentation of the project to Banks including preparation of PowerPoint presentations
  • Consulting and support after the receipt of the Indicative Term Sheet from a Bank
  • Support regarding the selection and the possible engagement of a law firm for the negotiation of the loan documentation (including the scope of work)
  • Support regarding the proposed Developer’s/Investor’s financial and day-to-day obligations under the draft loan documentation
  • Support regarding the fulfillment of Conditions Precedent for the disbursement of the loan and Conditions Subsequent
  • Following the obligations of the Developer’s/Investor’s financial and time related clauses under the final loan documentation throughout the construction and/or investment loan
  • Following DSCR calculations based on actual information provided by the client throughout the construction and/or investment loan
  • Support in negotiating an increase of the loan once the project has been completed
  • Support regarding the approach to Banks regarding a breach of covenant under the loan documentation
  • Support in negotiating the restructuring or refinancing of the loan with the original Bank(s)
  • Involvement in all aspects of project creation, financing (if any), development and their insurance, rent and sale
  • Consulting regarding the financing or refinancing of hotels operated by international firms

Download letter for investors.