Lending

Pbb Deutsche Pfandbriefbank has provided a €100 million loan to German investor TAG Immobilien to refinance a residential property portfolio in Germany.

Aareal Bank has provided a €368 million loan to finance a logistics property portfolio in Germany.

Finnish real estate investment company Sponda has agreed to syndicated credit facilities totalling €600 million from a club of Nordic and German banks.

The deleveraging process in China is “progressing relatively slowly thus far” according to a report titled “Deleveraging, Destocking and Rebalancing”, authored by Hang Seng Bank acting chief economist Thomas Shik.

After a pause around the time of the general election in May, finance requests have come back strongly in recent months according to the latest Laxfield UK CRE Debt Barometer.

pbb Deutsche Pfandbriefbank has provided a €63m senior loan to Cerberus Capital Management to refinance three German retail properties. The funds will also be used to refurbish the three shopping centres located in Bielefeld, Bonn and Konstanz.

The majority of insurance companies surveyed in a new study from BlackRock plan to increase holdings in one or more income-producing private debt strategies. Eighty-two percent of the insurers, comprised of 248 respondents and representing $6.5 trillion in assets, said that they would increase allocations to at least one alternative credit strategy such as commercial real estate debt.

Jones Lang LaSalle (JLL) has appointed Erik Jacobs to its Capital Markets Hotels & Hospitality Group as it expands its lending advisory business across Europe. Jacobs will be cover hotel transactions across the EMEA region from a debt and equity perspective.

UK banks are expected to sell up to £35bn of property debt this year, more than double 2014's £14bn. The predicted figure should see the UK top this year's European transactions table for real estate debt, expected to total around €120bn, according to PwC's latest portfolio sales market update.

The UK property finance market was in a “Goldilocks period”, according to Savills’ Financing Property report 2015. Another 46 new lenders have entered the market in the past year, annual lending was up by more than 50%, senior LTVs remained low and debt was easily accessible, according to the report. Another 46 new lenders have entered the market in the past year, annual lending was up by more than 50%, senior LTVs remained low and debt was easily accessible, according to the report.