Mark Mwaungulu
The firm is aiming to raise considerably more than when it first came to the European real estate credit market in 2020.
The London firm hit its £500m hard-cap on predecessor fund CREDF III in June last year.
The UK property firm is close to finalising a £100m joint venture to target real estate debt in the UK.
The firm has seen a retrenchment from banks and is looking to ‘control more of the capital stack’ amid refinancing shortfall.
The French manager, and joint venture partner Altarea, have committed €200m of initial capital to their first dedicated real estate debt vehicle.
The two managers have financed a 130,000 sq ft green office refurbishment in the UK and a 160-bed student housing asset in Spain.
The Canadian manager secured financing from a consortium of lenders to develop a further 440,000 sq ft on its Harwell campus in Oxford.
Alternative lenders are reluctant to write high leverage loans in today’s market.
The investment manager acquired one of France’s largest studios from French property manager Nexity.
Leumi UK has provided a £43.7m loan to Israeli firm Fattal Hotel Group for the acquisition and refurbishment of the historic Grand Brighton Hotel.