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An expected increase in acquisitions gives lenders hope that financing mandates will follow
Writing loans against office property is currently difficult. But lenders were already pondering the evolution of the sector before covid made things more complicated.
Nick Sanderson says the UK landlord obtained an interest cover ratio waiver on its sole secured loan to ensure 'flexibility' amid reduced retail rents.
The rating agency’s analysis of office-backed CMBS transactions shows AAA- and AA-rated tranches can withstand higher vacancy rates, while lower-rated tranches are more vulnerable.
The UK-based Swiss Life subsidiary sourced a £56m loan from DekaBank for its recent London office acquisition, amid debate about the future of the sector.
After its €200m green loan to Irish property company IPUT, Wells Fargo’s head of UK CRE lending says sustainability has become a core concern for sponsors.
The €205m refinancing facility for Northwood Investors was described by DWS’s Oswatitsch as having a ‘defensive nature’.
“With the right operating model, a co-working operator model could thrive in recovery” - Simon Brooks, Investec
Natixis Pfandbrief provided a €129.5 million loan to finance Henderson Park's purchase of the office and retail complex in central Berlin
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.