Lending

Pbb Deutsche Pfandbriefbank has provided a total of €120 million ($133.8 million) in loans on the acquisition of ten properties in Western Germany. The lender provided the loans to affiliates of the Catalyst Capital European Property Fund II that purchased the portfolio from TRIUVA (formerly IVG Institutional Funds) and a large German public sector pension scheme.

The fund has lent 12 loans totalling £159.5 million across 28 UK assets since inception.

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.