PERE Credit Staff
Madison Realty Capital is expected to see minimal impact to its $720m financing of the conversion of Pfizer’s former New York HQ following structural stability issues; Peachtree works toward a $3.5bn origination target for 2026 with its largest senior bridge loan to date; Pearlmark has more capital on tap for mezzanine financings with the close of its sixth distinct installment targeting subordinate debt opportunities; and more in today’s Term Sheet, exclusively for our valued subscribers.
Tristan Capital Partners is stepping up with a £340 million ($450.4 million) senior debt facility to fund completion of a London office tower; Barings is adding New York City multifamily exposure with a $298.4 million loan to replace SCALE Lending’s construction debt; PGIM expanded its industrial sector presence with a $298.4 million refinancing deal closed through its core-plus strategy; and more in our round-up of global loan deals from the past week.
Residential development in New York City is being spurred further by private real estate debt with a Maxim Capital-led $377 million construction financing; Incus Capital has held the second close of its latest strategy geared in part toward real estate credit en route to an €800 million target; interest rates in the US could rise before year-end according to revised outlook research from Park Madison Partners; and more in today’s Term Sheet, exclusively for our valued subscribers.
Firma Partners are fueling more office-to-living conversion activity with a £113 million ($150.7 million, €131.9 million) redevelopment deal near London; Grubb Properties has secured a blend of private senior and mezzanine real estate debt to build a luxury high-rise in Manhattan; Cheyne Capital is keeping cool and active in Spain with a €31 million cold storage construction debt package; and more in our round-up of global loan deals from the past week.
Multifamily remains the dominant asset class for sector-specific real estate credit fundraising.
The July/August edition of PERE Credit debuts with cover analysis diving into insurance allocators’ rising demand for real estate credit; Kayne Anderson Real Estate and its debt business are on the move as part of Bridgepoint’s $1.39 billion acquisition of the manager; Aviva Investors is adding Dutch office sector exposure through a €168 million loan to support 19 assets; and more in today’s Term Sheet, exclusively for our valued subscribers.
Reef Capital Partners secured a $430.9 million mix of senior and C-PACE financing from X-Caliber Rural Capital and CastleGreen Finance to revitalize Hawaii’s Coco Palms Resort; Aviva Investors is backing a Time Equities-owned Dutch office portfolio with a €168.1 million financing deal; Mesa West is adding to its multifamily activity with an $82.5 million refinancing package for a Seattle-area community; and more in our round-up of global loan deals from the past week.
Inside: How real estate debt is serving up new openings for insurance capital; What we heard at the PERE Credit 100 launch briefing in New York; A deep dive into European compensation figures; And much more…
Brookfield puts its European lending initiative into action with the funding of a £500 million ($661 million; €580 million) acquisition package; Invesco is outlining global ambitions of its own on the back of its record €710 million of European originations in H1; Madison Realty Capital is driving more office-to-residential conversion momentum across New York City with a $480 million financing closed; and more in today’s Term Sheet, exclusively for our valued subscribers.
Madison Realty Capital is backing the residential conversion of 1740 Broadway with a $480m financing, adding to its redevelopment funding in New York City; Cheyne Capital provided acquisition financing for a Central London hospitality portfolio repositioning; Invesco Commercial Real Estate Finance Trust adds securitized momentum with a sequel $1.2bn issuance; and more in our round-up of global loan deals from the past week.