Mark Mwaungulu
The firm is seeking to raise around €300m for its BNP Paribas European Enhanced Real Estate Debt Fund.
The asset manager is separating its residential and commercial lending between its ARA Venn and ARA Europe businesses.
The US manager, which entered the European property lending market in 2020, is closing in on a first close for its latest vehicle.
The Toronto firm, which entered the US real estate debt market in 2021, is considering a similar European strategy.
The firm trumped its initial target of €2.5bn for Arrow Credit Opportunities II, through which it will invest in a range of asset-backed credit transactions.
The firm will aim to raise €250m for the vehicle, Albulus Credit II, with a focus on refinancing maturing loans in Germany and Austria.
The Los Angeles-based firm has provided a £186m senior loan to GreenPoint to finance the acquisition of a UK car parking portfolio.
The London-headquartered firm sees an opportunity to lend up to €800m per year in the region.
The financial services firm closed its maiden property debt fund in 2021, surpassing its fundraising target.
Developer HB Reavis's mixed-use complex has been refinanced in a £475m transaction.