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As borrowers increasingly seek whole loans, senior funds are more difficult to deploy, according to the manager’s head of commercial debt funds.
Atlas Capital Partners, founded by Sean Tarrant and Christoph Nickel, has provided a £15m refinancing of a Knightsbridge residential asset.
The Bank of England has warned global falling property values could lead to losses for creditors, echoing concerns shared by the European Central Bank.
The insurance company lender has provided a loan against Get Living’s New Maker Yards in Salford.
The financing replaces construction debt put into place in 2019.
The sponsor – developer the Moran Group – attempted to sell one of the assets, the Rockpoint apartment complex, last year.
There was optimism at the Cannes event for more transactions amid predicted falls in interest rates, but several expect distress on European bank loans
The subsidiary of German lender pbb Deutsche Pfandbriefbank is speaking to investors about raising up to €500m.
The manager says the additional capital provides it with £1.3bn in available capital.
The vice-president of the European Central Bank said alternative debt providers are of greater concern than traditional lenders.