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Alternative lenders
The asset management firm has raised €250m for its maiden property debt fund and has deployed €180m across six loans in France, the Netherlands, Spain and Italy.
The private investor has provided a development bond to fund luxury Italian hotel developments as it expands its European lending strategy beyond the UK.
Demand outstripping supply, increased investment activity and higher returns are making this space more appealing to lenders.
The Italian insurer is planning to open the platform to third-party investors and raise an additional €500m over the next two years.
There is growing demand for construction finance. In the right circumstances, it makes sense for those lenders that understand the risks.
The French asset manager will provide development loans and enter new country markets through its third senior real estate lending vehicle, for which it is aiming to raise €400m.
France has allowed non-banks to become direct originators.
The European commercial real estate lending market faces numerous headwinds. John Barakat, head of real estate finance at M&G Investments, explains how managers can protect their investors’ capital while generating a return.
The need to refinance a huge pile of maturing debt, lenders’ reticence to fund retail, and the growing importance of cashflow were among key topics raised at the consultancy’s latest Financing Property presentation.
CREFC Europe’s latest quarterly survey of market sentiment highlights pessimism about the retail sector and lower expectations for liquidity in the UK.