Alternative lenders

Speaking at the first District World Summit event in London last week, the bank’s co-head of real estate said values have not adjusted as quickly as anticipated.

The firm is aiming to raise considerably more than when it first came to the European real estate credit market in 2020.

The London firm hit its £500m hard-cap on predecessor fund CREDF III in June last year.

The UK property firm is close to finalising a £100m joint venture to target real estate debt in the UK.

The firm last week announced a retail and hotel refinancing in London, bringing its European loan book to £1.1bn.

Velo Capital, the recently formed group’s credit arm, will target financing opportunities including ‘brown-to-green’ schemes.

The firm has seen a retrenchment from banks and is looking to ‘control more of the capital stack’ amid refinancing shortfall.

The French manager, and joint venture partner Altarea, have committed €200m of initial capital to their first dedicated real estate debt vehicle.

The Berlin-based firm says its open-ended credit vehicle is one of the first in Germany to be classified as Article 9.

The two managers have financed a 130,000 sq ft green office refurbishment in the UK and a 160-bed student housing asset in Spain.