The UK’s Nationwide Building Society has announced that it will end all commercial real estate lending to new and existing customers ahead of a complete closure of its CRE business.
German bank pbb Deutsche Pfandbriefbank (pbb) has secured a €65 million credit line which will partially fund the refinancing of its loans to Berlin-based housing and real estate companies.
Up to £1 billion of capital is to be raised through an issue of bonds targeted at wealthy Chinese students, which will be partially invested in UK real estate debt backing property including affordable housing.
The US-based real estate brokerage firm HFF is planning to enter the UK market through the acquisition of a London-based advisory firm.
International banks and financial institutions are making “worst-case” preparations to move up to 20 percent of staff overseas in anticipation of the UK’s withdrawal from the European Union, the chairman of the City of London’s policy and resources committee has warned.
The European real estate market descended on Munich for the annual EXPO Real trade fair in October. Daniel Cunningham headed to the exhibition to test the mood.
One of the first non-bank property lenders in Europe, DRC Capital has expanded its repertoire to include senior lending to under-banked sections of the market. Daniel Cunningham met the partners.
The largest lending deal recorded in the last month was P3’s refinancing of its pan-European portfolio. P3 closed a financing across three loans on which Eastdil Secured advised.
The latest figures compiled by our Research & Analytics division show there are 116 real estate debt funds in the market, seeking just over $48.9 billion of capital in total.
Lenders are increasing their exposure to German construction projects, while finance for UK development remains constrained.