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.
Term Sheet: German banks latch onto logistics, LaSalle’s green lending strategy, the trouble with...
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.
The sector is vulnerable to rising interest rates due to low debt yields and cashflow constraints, says the credit rating agency.
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.
Analysts at the Dutch bank believe a tightening of lending standards following banking turmoil will not be as severe in Europe.
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.