Insight

Term Sheet: Blackstone’s senior rank changes; Affinius and Axonic’s venture; QuadReal’s European ambitions

Blackstone has named Katie Keenan, the chief executive of BXMT, as head of its private REIT; Affinius Capital and Axonic Capital have formed a venture to target mid-market construction financing opportunities; QuadReal is looking abroad to expand its portfolio with a £2.5bn European lending strategy; and more in today’s Term Sheet, exclusively for our valued subscribers.

PGIM: Real estate credit emerging as a core asset class for investors

The manager says a breadth of return options for investors is driving appetite for the asset class.

Ardian and Rockfield source €550m loan for European PBSA expansion

Paris-based Ardian’s Antoine Leboulanger says there is plenty of bank financing liquidity for the asset class.

Term Sheet: QuadReal’s European lending plans, Aareal’s latest Paris hotel loan, Lloyds’ proposed SRT transaction

QuadReal Property Group, which invests on behalf of one of Canada’s largest pension funds, makes a European real estate lending plan; Germany’s Aareal Bank finds another Paris hotel asset to finance; UK lender Lloyds reported to be in the market with a commercial real estate synthetic risk transfer transaction; and more in today’s briefing, exclusively for our valued subscribers.

Loans in focus: Cottonwood’s Austin bet; Bayview’s Florida C-PACE fuel; Urban Standard’s Los Altos build-up

Cottonwood is funding a life sciences development in Austin’s tech corridor; Bayview PACE is stepping up mid-construction to help finance a Miami residential tower; Urban Standard Capital is powering a condominium build near California’s Bay Area; and more in our round-up of stateside loan deals from the past week.

REC Europe’s Lending Market Barometer: Last chance to have your say

Our first industry-wide survey closes for responses on 26 September.

Loans in focus: SocGen and FAB back London neighbourhood offices portfolio, Brookfield issues £450m for retail outlets, Castleforge and Conversant Capital underwrite offices

Societe Generale Group and First Abu Dhabi Bank provide a £171m facility secured by workspaces in ‘neighbourhood’ London locations; Brookfield issues £450m to LaSalle Investment Management for outlet retail centres; Castleforge and Conversant Capital issue £90m for an office in London’s insurance district; the latest additions to the Real Estate Capital Europe lending database; and more in our round-up of European loan deals from the past week.

Patron’s Breslauer charts careful path into real estate credit

The former Lehman Brothers banker warns that debt strategies come with a unique set of risks.

Patrizia taps into growing ’RE-Infra’ opportunity with €900m loan

The manager says there was intense competition to lend to its social infrastructure platform.