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Refinancing
The debt was provided to Finnish company Technopolis, owned by manager Kildare.
The Southern Europe-focused manager took just five months to reach a final close for the fund, well below the European average.
A trend of institutional investors elevating credit-focused executives is a natural and predictable mirror of what is happening with managers.
The landlord has sourced £533m of fresh financing but faces a wall of office-related debt maturities in the coming years.
Münchener Hyp makes its third consecutive increase in capital set aside for potential defaults.
The Washington DC-based agency says the sector is a salient near-term risk to global financial stability.
Noteholders in the retail-focused securitisation will vote on the proposal later this month.
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 sponsor – developer the Moran Group – attempted to sell one of the assets, the Rockpoint apartment complex, last year.