October 2014 Issue

Euro debt funds’ capital raising in first half of 2014 beats 2013 total, reports David Hatcher. Capital raised by real estate debt funds has fuelled competition in the financing market this year, particularly in Europe, but managers are resolute that the diversification is positive and sustainable. In the first half of 2014 alone, funds targeting […]

Banking reform removes punitive taxation on foreign lenders, writes David Hatcher. A radical change to Italy’s banking laws could lead to a resurgence in real estate lending in the country and help aid recovery of its property market as the results of the ECB’s Asset Quality Review (AQR) loom. The “decreto competitività” law, passed in […]

IREBS lending report suggests LTV levels will hit 72% next year and margins will fall

Under Michael Nash, Blackstone Real Estate Debt Strategies has grown to become a $9bn lender.

Real Estate Capital profiles the leading lights of the European real estate lending scene, from the previously dominant big banks to the new breed of lenders that are helping to reshape and broaden the market At Real Estate Capital, we report on the financing for real estate, day in and day out. This is our […]

Our panel of industry experts discuss the opportunities on offer in the continental European market

Survey shows the extent of non-bank lenders’ role in resi funding, writes William Newsom How the market has swung back up! At the bottom of the downturn in 2009/2010, it is said that no one was prepared to lend, whereas today Savills can identify at least 57 active providers of residential development finance (RDF) in […]

Ken Rivkin joined Auction.com in 2009, two years after its launch, to spearhead the company’s commercial division, having previously held senior roles at Credit Suisse and Bank of America during a 25-year stint on Wall Street. In 2013, Auction.com sold 35,000 homes and $3.8bn of commercial real estate assets, $1.2bn of which was debt. He spoke […]

PERE Research and Analytics’ monitoring shows 60 real estate debt funds in the market this month, seeking to raise $23bn. The new entrants are Portland-based Fairway America, targeting $500m for its seventh, openended fund investing in various small-balance, real estate asset-based funds and, to a lesser degree, real estate secured loans. In Europe, AXA is seeking around €1.5bn […]

Real Estate Capital market commentary • Segro and PSP put in place €208m of new financings across their German, Polish, Czech and French portfolios, from German banks Aareal, Deutsche Pfandbriefbank and Helaba. • In the largest deal in Germany, a club of lenders refinanced prime shopping centre Mall of Berlin with a €600m loan. Pension fund BVK contributed the majority, at […]