July/August 2017 Issue


    Month: July
    Year: 2017

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    Editor’s Letter: German lenders motor on

    Germany’s Pfandbrief banks are commercial real estate financing machines, propelled by momentum that shows no signs of abating.

    Analysis: Turning to debt

    With an increasing appetite to provide debt capital alongside equity investment, property companies are the latest players to enter real estate lending, writes Lauren Parr.

    Break away from the pack

    Those real estate lenders willing to branch into niche sectors will stand the best chance of winning business, writes Savills valuation director Nick Hume.

    Finding an NPL solution

    There is a long way to go before investors feel comfortable getting behind securities backed by NPLs, despite regulators’ efforts, writes David Brooke

    How are German real estate banks making any money?

    Given their wafer-thin lending margins, it remains a mystery to many in the real estate industry how the country’s property bankers turn a profit. Lauren Parr asks the question.

    Safe haven status driving record deal activity

    Core investors remain focused on Germany’s prime property, reports Doug Morrison.

    Why Germany is a lonely place for debt funds

    Lauren Parr speaks to those alternative lenders managing to carve out a niche in the country’s uber-competitive lending market.

    In Focus: Lasalle Investment Management

    Fresh from raising a third wave of capital for its lending strategy, LaSalle Investment Management debt boss Amy Aznar tells Daniel Cunningham that the market still needs those willing to provide higher leverage.

    Listed opportunity is ripe for US debt funds

    The time is right for two major private equity firms to be taking their real estate debt platforms public, writes Meghan Morris.

    Stalking horses

    Blackstone’s €12.25bn sale of Logicor to CIC could be the latest example of IPOs being used to drum up business for a sale. By Jamie Henderson.

    CAPITAL WATCH: Private real estate debt funds June 2017

    The latest figures compiled by our data team show there are 27 debt funds with known targets above €100m currently fundraising.

    CAPITAL WATCH: Recent lending deals June 2017

    The landmark deal in the UK market saw Hong Kong investor CC Land source a three-bank financing of its £1.15 billion purchase of The Leadenhall Building in the City of London, better known as the Cheesegrater.
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