Jane Roberts
M&G Investments has launched the first fund to invest in European long lease property with £265 million of initial commitments from five pension funds.
Pbb Deutsche Pfandbriefbank has teamed up again with German insurer ERGO to provide a long-term loan for a development project in Munich.
Pbb has structured a 20-year investment and development loan totalling €160 million for the German city’s Neue Balan project.
Cairn Capital has launched its first European real estate debt fund with €50 million of seed capital from majority owner Mediobanca and an eventual target of €750 million.
AgFe has held a final close for its first real estate Floating Rate Senior Debt Fund and will begin raising capital for a follow on fund, Real Estate Capital can reveal.
The Italian government’s EU deal allowing it to provide guarantees to the country’s banks for securitising non-perfoming loans could be helpful to the European CMBS market.
Apache Capital Partners and Moda Living are taking on circa £80 million of debt to finance development of their first UK PRS scheme.
Managers widen the strategy for follow-on high-yield funds in 2016, reports Jane Roberts.
Quest for big portfolio deals set to shift from UK to Continent, reports Jane Roberts.
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. In numerical terms, funds with an Americas focus lead the way. However, while smaller in number, the total sum being targeted by Europe-focused funds is slightly larger than that of their Americas counterparts.
Citi and Morgan Stanley have syndicated £1 billion of the jumbo loan they made to Lone Star for the £2.3 billion acquisition of the Project Churchill loan portfolio, Real Estate Capital has learned.