Alejandrina Catalano
At our inaugural Forum, industry leaders discussed Europe's changing debt market
PERE Research and Analytics’ monitoring shows 60 real estate debt funds in the market this month, seeking to raise $23bn. The new entrants are Portland-based Fairway America, targeting $500m for its seventh, openended fund investing in various small-balance, real estate asset-based funds and, to a lesser degree, real estate secured loans. In Europe, AXA is seeking around €1.5bn […]
As London basked in extra-warm summer sunshine, Real Estate Capital’s UK round table gathered to take the temperature of the UK real estate market. Giving their views were two heavy-duty institutional investors: Cameron Fraser, director of balanced property funds at recently-combined global investment manager TIAA-Henderson Real Estate, and Chris Perkins, head of business space at […]
US private equity players, Asian capital from mainland China and Middle Eastern investors are all checking into European hotels.
PERE Research and Analytics’ monitoring shows there are 58 real estate debt funds in the market this month, seeking to raise $22bn for the asset class. New entrants include Madison Realty Capital, which is targeting $600m for its third fund investing in US commercial mortgage loans, mezzanine loans and preferred equity interests. In Europe, TIAA-Henderson […]
Real Estate Capital market commentary • In July, a club deal led and arranged by ING and including BNP Paribas, Crédit Agricole CIB and Société Générale provided Europe’s largest loan for some time: a €500m facility to Chelsfield and Olayan Group. The debt will finance their €1.2bn purchase of a prime, nine-asset, retail-led Paris portfolio […]
Blackstone has won the hotly contested bidding for Catalunya Banc’s €6.4bn Project Hercules portfolio of bad Spanish residential loans. The US opportunity fund is paying €3.5bn for the portfolio, which Catalunya Banc said had already been written down by €2.2bn to €4.2bn. To get to €4.2bn, FROB – the agency set up to restructure Spain’s troubled banks – will […]
First-movers line up to cash in on Italian banks’ bad loan clear-out, reports Alex Catalano Italy is the new Spain for real estate debt investors. International capital is circling around the country, looking to swoop on distressed non-performing loan portfolios and real estate. The early movers are all there: Fortress, Cerebus, Blackstone. “Over the past six months sentiment has been improving,” says Gennaro […]
With assets Spanish assets hard to find, overseas players are backing IPOs.
A rise in long-term interest rates is unlikely to impact significantly on property yields, according to a new study published by the Investment Property Forum.