PERE Credit Staff
In today's edition Affinius Capital expands its European financing activity with a major preferred equity transaction; a trial relating to the valuation of a Brussels office tower is underway in London, with PERE in attendance; Ares Management reports strong credit fundraising activity in Q2; and more in today’s Term Sheet, exclusively for our valued subscribers.
In today's edition, Blue Owl Capital is expanding its presence in the real estate credit markets with nearly $1 billion raised across data center and sector-wide strategies; Blackstone is narrowing the scope of its mortgage trust’s loan portfolio amid broader market noise; Industrial outdoor storage joins institutional capital's inner circle on the heels of private credit lender activity; and more in today’s Term Sheet, exclusively for our valued subscribers.
In today's edition, AllianceBernstein is extending its year-to-date lending run with a $137.5 million refinancing deal in Brooklyn's Bedford-Stuyvesant submarket; PGIM is adding to its industrial debt portfolio with a $213 million cross-collateralized package spanning major US markets; Blackstone is preparing a swath of multifamily assets for a commercial mortgage-backed securities loan; and more in our round-up of global loan deals from the past week.
UK manager Mercia is aiming to expand its development financing portfolio and is raising a £500m strategy to bolster its platform; Invesco has landed a commitment from UK pension pool LGPS Central to support growth of its CMI Europe strategy; S3 Capital unpacks plans for its next $10bn in lending volume after reaching an origination milestone; and more in today’s Term Sheet, exclusively for our valued subscribers.
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.