REC staff

Financial markets remain unsettled following the collapse of First Republic Bank; more refinancing success for Blackstone in Spain; Oaktree lands large capital pile for European lending spree; the view from the Deutsche GRI gathering in Frankfurt; European lenders reflect caution in the ECB's latest lending survey; and more in today's Term Sheet, exclusively for our valued subscribers.

The latest figures from Bayes Business School show refinancing activity propped up UK lending volumes in 2022; Loan servicer Mount Street puts a majority stake up for sale following a period of growth; Brookfield’s latest default hints at challenges in the US real estate debt market; and more in today’s briefing, exclusively for our valued subscribers.

Listed UK property company LXi REIT’s major refinancing demonstrates lender appetite for long-income real estate; a restructuring plan for Germany’s Adler gets the go-ahead; Essen-based manager Aukera corrals capital for a ‘super-senior’ strategy; and more in today’s briefing, exclusively for our valued subscribers.

Lenders back logistics despite rising yields; LaSalle is to support retrofitting with a £500 million strategy; BNP Paribas Asset Management launches its third debt vehicle; Moody’s spots the rising default risk of German residential loans; and more in today’s briefing, exclusively for our valued subscribers.

Blackstone’s €680 million Spanish hotels refinancing demonstrates lender appetite for certain sponsors and properties; Cheyne Capital and Berlin Hyp provide office loans to sponsors with transformation plans; Singapore’s ARA reorganises its European property lending businesses; and more in today’s briefing, exclusively for our valued subscribers.

Banking sector crisis continues to create uncertainty across lending markets; rating agencies warn about the challenges Blackstone faces to refinance securitised Italian loans; Canada’s Slate considers entering Europe’s real estate debt space; and more in today’s briefing, exclusively for our valued subscribers.

UBS's purchase of Credit Suisse poses plenty of questions for the real estate sector; US manager AllianceBernstein targets its second European lending vehicle; WeWork sorts its finances in an agreement with bondholders; and more in today’s briefing, exclusively for our valued subscribers.

The mood remains mixed at MIPIM, the annual real estate conference in Cannes; Silicon Valley Bank and Signature Bank failures have different initial implications for real estate managers; US-based firm CIM Group expands property credit business into Europe; and more in today’s briefing, exclusively for our valued subscribers.

Blackstone’s Finnish default hints at the refinancing challenge facing even the largest sponsors; Germany’s pbb Deutsche Pfandbriefbank looks to the equity market for diversification; shareholders give Heimstaden a leg-up to deal with its debt pile; and more in today’s briefing, exclusively for our valued subscribers.

The winners of the Real Estate Capital Europe Awards 2022 can be finally revealed; financial services firm Alantra targets new capital as it sees a lending opportunity; Cheyne Capital makes a second Nordic loan, with a luxury hotel financing; and more in today’s briefing, exclusively for our valued subscribers.