Jane Roberts
The sharp fall in five-year swaps has depressed forecast returns for UK senior debt, from 3.7 to 3.3 percent.
Allen & Overy's former head of real estate finance Mark O'Neill is joining rival magic circle law firm Linklaters.
O'Neill officially retired from Allen & Overy last year after more than 20 years there, latterly as head of the REF group and having been a partner in the banking practice since 1995.
JP Morgan has recruited Alexander Storton from rival Bank of America Merrill Lynch to beef up its European real estate debt distribution capability, Real Estate Capital has learned.
Venn Partners has held a second close for its first real estate debt fund, bringing total capital raised for the vehicle to £185 million.
Only one 2016 securitisation has been seen so far but the AAA pricing was more promising, writes Real Estate Capital consultant editor Jane Roberts in a special report on European debt capital markets.
Investors’ cooling appetite for riskier assets is reflected in the latest Colliers International and Real Estate Capital Investor Pricing Survey.
The latest figures compiled by our Research & Analytics division show there are 117 real estate debt funds in the market, seeking just over $48.9 billion of capital in total.
Legal & General Investment Management (LGIM) has financed a £125 million portfolio of UK student housing for two investors via a long-term bond.
The £94 million of debt finance backs the acquisition by Arlington Investors and Campus Living Villages of six schemes from Spectrum Housing Group and Sanctuary Housing Association.
It was the company’s second retail bond; the first, which is also secured on school buildings, mostly in central London, has traded consistently at a premium to its 5.75% issue price since it listed on ORB in December 2012.
Helaba had another very strong year in 2015, matching the €9.8 billion it lent on real estate in 2014 and comfortably exceeding its €8 billion target.