May 2016 Issue


    Month: May
    Year: 2016

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    ANALYSIS: Dive in swap rates cuts UK lending returns

    The sharp fall in five-year swaps has depressed forecast returns for UK senior debt, according to CBRE's latest UK Debt Prospects report.

    White Tower case further tests CMBS issuers’ rights

    Colliers International stands accused of negligently overvaluing a London office portfolio back in 2006, writes Daniel Cunningham.

    TIAA sets off on march into the Continent

    With its established presence in the UK, the US firm now has its sights set on other European markets. Justin Slaughter reports.

    European market gets shot of Asian bank liquidity

    Chinese banks are blazing a trail in commercial real estate lending, reports Jane Roberts.

    SPECIAL REPORT: Different shapes and sizes, but Europe is the target for all

    Our inaugural survey of the leading Asian lenders in Europe reflects a growing pool of organisations led by established Japanese banks and relatively new Chinese lenders but also including a growing number of niche operators. Paul Yandall reports.

    Banking pain means Pembrook Capital Management gains

    As regulations and volatile market conditions hamper the traditional mainstays of the lending world, fast-moving unregulated lenders are in a position to cherry pick the best deals. Al Barbarino meets with Stuart Boesky and his team at Pembrook Capital Management to discuss the new environment.

    The Netherlands: more lenders willing to go Dutch

    Domestic and German banks are bringing greater liquidity to the Netherlands real estate market, writes Daniel Cunningham.

    Energy sapped on the journey from boom to bust

    Justin Slaughter reflects on the implications for real estate lending in US cities hit by the plunging oil price.

    GUEST FEATURE: How to transfer risk in CRE transactions

    W&I insurance is increasingly being used as a mechanism to re-allocate the risk of breach of warranty claims in private market real estate transactions. Janine Fenwick and Ben Brindle of Risk Capital Advisors explain its merits

    CAPITAL WATCH: Recent lending deals April 2016

    LBBW’s London branch was behind a £210 million financing of the Aldgate Tower office building located on the eastern fringes of the City of London. The German bank provided the loan to Brookfield and China Life to fund the acquisition of the 317,000 square foot tower from Irish firm Aldgate Investments.

    CAPITAL WATCH: Private real estate debt funds April 2016

    The latest figures compiled by our Research & Analytics division show there are 117 real estate debt funds in the market, seeking just over $48.9 billion of capital in total.

    Editor’s letter: A pause for some may be an opportunity for others

    Is the European real estate lending market still pausing, or is it beginning to move on? The latest apparent confirmation of a subdued market came with the most recent Cushman & Wakefield report into loan sales, however, some lenders insist things are beginning to pick up.