Insight

REC USA Awards 2023: A year for the non-traditional

Elevated interest rates and limited transaction volumes constrained the US commercial real estate markets in 2023. But alternative lenders bet selectively on deals ahead of the next market cycle.

Generali adjusts senior strategy to meet demand for higher leverage

As borrowers increasingly seek whole loans, senior funds are more difficult to deploy, according to the manager’s head of commercial debt funds.

Term Sheet: 777 Tower’s short sale; NYU Stern calls for green financing action; Northwind inks rare office deal

The Downtown Los Angeles office market is gaining some clarity with Brookfield’s slated $145 million sale of 777 Tower following a $289 million debt default; NYU’s Stern Center calls for more green financing and decarbonization action from borrowers and lenders as regulatory pressure looms; Northwind Group places a rare bet on office with Jersey City asset financing amid broad sector headwinds; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: Central banks warn of commercial real estate risks, Grosvenor’s UK debt plans, Battersea Power station’s £1.1bn refinancing

The European Central Bank’s reiterated concerns about commercial real estate are echoed by the Bank of England; Grosvenor goes on the communication offensive about its expanded UK residential debt plans; Investec declares it is more than a lender with the launch of an equity side strategy; CBRE Investment Management generates mega-refinancing deal for London’s Battersea Power station with the asset’s construction lenders; and more in today’s briefing, exclusively for our valued subscribers.

Former Bain duo’s new firm originates first loan

Atlas Capital Partners, founded by Sean Tarrant and Christoph Nickel, has provided a £15m refinancing of a Knightsbridge residential asset.

Bank of England adds to concerns regarding commercial real estate risk

The Bank of England has warned global falling property values could lead to losses for creditors, echoing concerns shared by the European Central Bank.

Rothesay grows residential loan book with £110m financing

The insurance company lender has provided a loan against Get Living’s New Maker Yards in Salford.

CBRE IM places €750m bond amid ‘strong demand for real estate’

The manager upsized the offering owing to investor demand, as bond market sentiment improves.

DWS: Real estate debt fundraising conditions ease as denominator effect wanes

The manager says more investors will return to real estate following a recovery in stocks and bonds.

ICG Real Estate provides £100m development loan for Manchester residential scheme

The London-based manager was selected to provide the financing because it was able to provide a whole loan.