Design Of Mezzanine Fund Financing Scheme For DM Company Xi'an Project

The real estate industry has been developing in China for nearly 30 years,and the external financing of real estate enterprises has become an essential factor affecting the development of the real estate industry.The government's management institutions continue to introduce relevant policies to financial institutions to regulate the external financing of real estate companies;finally put forward the "substance over form" supervision principle,conduct a penetrating review of financial institutions entering the real estate industry,and limit social funds.Excessive inflows into the real estate industry reduce financial risks.At this stage,domestic real estate enterprises mainly rely on the traditional debt financing model.The available financing models are relatively few,facing the problems of rising capital costs,low efficiency of capital use,and high consumption of available assets.DM Co.,Ltd.is a real estate company listed on the domestic A-share market.It ranks among the top 50 in the comprehensive ranking of real estate companies in 2018.The company's asset size and asset structure have certain representative significance in domestic mainstream listed real estate enterprises..Firstly,it summarizes the theoretical basis and literature research results of real estate financing at home and abroad.In view of the changes in financial regulatory policies,it analyzes the financing modes available to real estate enterprises at the current stage in China and demonstrates the advantages and disadvantages of different financing models.The financing model of land acquisition projects provides a theoretical basis.On this basis,a case study of the DM company Xi'an land acquisition project was conducted.Among them,the company and Xi'an project profile analysis,focusing on the company's current cash flow situation,Xi'an project funding gap analysis;for the above analysis results,compared with the traditional financing mode currently in use,screening can meet the project The financing model proposes a solution to the mezzanine fund financing model.In accordance with the above solutions,select qualified financial institutions,evaluate the interests of all parties involved,design the rights and obligations of the parties to the project,set up the financing measures and corresponding exit mechanisms,form a specific scheme for the mezzanine fund financing model,and Feedback and evaluation of the implementation effect of the project mezzanine fund financing scheme.In the end,the contents of the mezzanine fund financing scheme proposed in this paper are summarized,and the shortcomings of this paper are found out.