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Alternative lenders
Challenging financing conditions persisted this year, but real estate lenders became more confident to transact.
The facility replaces a €723.9m loan secured by the Finance Tower, owned by South Korea’s JR Global REIT.
Opportunities are emerging from troubled assets or owners, but they are not what the industry had anticipated.
Although managers are keen to write new loans, sources say they are monitoring existing facilities to protect investor capital.
The manager’s seeding of Evermill, a secure income lending platform, signals Delancey is continuing to diversify its strategy.
Gaining significant exposure to real estate credit was also a key draw, according to global co-head of real estate Karim Habra.
Part four of our guide to the finance providers making their mark in Europe.
Part three of our guide to the finance providers making their mark in Europe.
The £900m equity backstop committed by shareholder Brookfield is designed to gain bondholders’ approval for raising fresh debt.
The firm is confident in the European lending market’s prospects, David Gorleku, from Blackstone’s real estate credit business, tells REC Europe.