Residential

Lenders have growing appetite to back Spanish housing schemes as the sector experiences a robust recovery from the last banking crisis.

Tailwinds including government support and opportunities in the build-to-rent sector will support the housing market over the next year, writes Randeesh Sandhu, CEO of residential development lender Urban Exposure.

As the late stage of the property cycle begins to bite, the 2019 Emerging Trends Europe report indicates where debt providers should put their capital to work.

The credit arm of the US private equity giant has lent €240m for land purchases to Habitat Inmobiliaria, which it acquired earlier this year.

Kinnerton Credit Management has announced a first close of its fourth fund on around €130m and is including Southern Sweden in its investing mandate for the first time.

Almost a decade since the launch of the Spanish equivalent to the REIT regime, listed property vehicles are creating significant business in the debt space.

A new £1bn fund will provide liquidity for smaller builders aiming to get construction projects off the ground.

While certain areas of the market continue to struggle, debt providers are increasingly drawn to the sector’s fundamentals, which offer an oasis of opportunity in the country.

The firm makes its third debt investment in the sector with a £75m financing for GreenSquare.

The firms aim to address a ‘shortage of debt capital’ in mainstream residential developments with their joint venture vehicle, which has an initial size of £165m.