Alejandrina Catalano
Julia Marciano has joined Allianz Real Estate as head of loan asset management of European debt, based in the Paris office.
Deutsche Hypo, part of Nordeutsche Landesbank, increased its new lending on commercial real estate by 36% in 2014, to €3.6bn. However, profits were 36% down , to €41.4m, because of €42m of provisions against Austrian Heta, the ‘bad bank’ of Hypo Alpe Adriabad.
PVE Capital, a European credit investment firm, has bought a €408m portfolio of Italian non-performing loans, reports Private Debt Investor, our sister publication. The book comprises residential and commercial real estate loans, with the former making up around 75% of the assets, said Gennaro Pucci, founder of PVE Capital
PVE raised a new credit fund from third-party investors in just two weeks in January to support the purchase from a small Italian private bank, Pucci said. He declined to say what the total size of PVE European Credit Fund I is but explained that it holds between 20% and 30% of the Italian NPL portfolio.
Germany’s commercial real estate market is fiercely competitive and oversupplied with debt.
BNP Paribas, ING Bank and RBS have arranged a new €100m revolving credit facility for Goodman European Logistics Fund. GELF will use the five-year finance for general corporate purposes as well as acquisitions.
"The new revolving credit facility addes to GELF's financial flexibility, allowing GELF to respond rapidly without the need for property-specific financing arrangements when suitable investment opportunities arise," said fund manager Emmanuel Van der Stichele.
International asset manager Threadneedle has taken a 2% stake in Islamic property bank Gatehouse.
London-headquartered Gatehouse is a Shariah-compliant investment bank that specialises in real estate, treasury, wealth management and Shariah advisory. The Kuwaiti-backed bank manages $2bn of assets in the USA, United Kingdom and Europe.
New forecast shows property debt still attractive despite fall in returns, writes Alex Catalano CBRE is launching a new, quarterly forecast, UK Debt Prospects. The research, which Real Estate Capital will carry regularly, estimates the average returns lenders to UK commercial real estate are likely to achieve. Dominic Smith, CBRE’s head of real estate debt […]
Our roundtable panel discussed the capital flowing around Europe’s real estate markets, working with investors, and the challenge of matching return expectations with the right assets.
There will be no let-up in capital flowing into European real estate this year, according to Emerging Trends in Real Estate Europe, the annual forecast jointly published by the Urban Land Institute (ULI) and PwC.
The report – based on surveys and interviews with more than 500 European industry players – found 70% of respondents expect more equity and debt will flow into their markets this year. “It is easier to get capital than to find good deals,” said one.
Investors are planning to pump €42.5bn into real estate globally this year, a 22% increase on 2104 according to INREV’s annual survey of their intentions. INREV’s survey canvassed 337 investors, fund managers and fund of fund managers who have an aggregate €1.6tr of real estate assets under management. Nearly 46% are planning to increase their […]