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Alternative lenders
M&G’s head of property lending discusses the implications of the covid-19 crisis for Europe’s real estate debt fund industry.
Our latest ranking of Europe’s real estate debt fund managers reveals the volumes of capital raised between 2015 and 2019 inclusive. Now, these managers face the challenge of deploying it in an uncertain market.
The duo will target both the acquisition and origination of loans secured by real estate in the western US, Ireland and the UK.
The real estate lending market is largely on pause. But the deals closed since the onset of the crisis hint at what lenders are still willing to sign off on.
Capital providers and their managers are seeking fresh pockets of value as fundraising in the sector dips.
The business school’s end-year 2019 survey results show defaults were on the rise pre-covid-19, but that the market entered the crisis in a nonetheless stable state.
Losses and write-offs on retail debt could reach £10bn, while £22bn of development loans face delays, the latest UK lending market report by Cass Business School predicts.
The real estate investment manager has named a new CEO following the close of the merger between Bentall Kennedy and GreenOak last year.
Our conversations with debt providers suggest many will favour a collaborative approach to dealing with difficulties faced by borrowers.
Market observers expect deals like ICG-Longbow’s recent data centre loan to become more frequent as new working patterns drive internet usage.