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The insurer has closed its largest European debt deal yet, backing a portfolio of prime offices across the UK capital.
The covid-19 crisis has accelerated two different shifts in how properties with a space-as-a-service component will be valued.
For multiple reasons, Europe’s biggest property market has been an outlier in the region during the course of the pandemic.
€650 million was raised for the project by an investor pool including Icawood and BNP Paribas
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.