Insight

US loans drive leap in loss provisions for Germany’s pbb

The bank’s chief executive says he is confident it will ‘get through’ the challenging market conditions.

Term Sheet: The REC Europe awards winners revealed, Aareal’s US loans headache, private real estate’s pivot to debt

The winners of the Real Estate Capital Europe Awards 2023 highlight the industry’s successes during a tough year; German’s Aareal Bank divulges the impact on its figures of lending against US offices; we delve into the shift in attention within the private real estate industry towards credit strategies; and more in today’s briefing, exclusively for our valued subscribers.

Building behind the loan: No 1 Poultry – The City’s colourful, postmodern gem

Sitting at one of the City of London’s busiest junctions, the multi-use building’s lender put its loan up for sale in January.

Berlin Hyp shows faith in offices with Dutch loan

The German bank has provided a €130m facility to Schroders for an office portfolio.

DRC Savills IM provides €38.5m loan for Spanish PBSA refinancing

The three-year facility to developer Princeton Investments has been originated at 60% LTV.

Asset managers in demand to help sift good situations from bad

As loan extensions expire and lenders and borrowers face the impact of higher debt costs on their investments, skilled asset managers are in demand.

LBBW and KfW back German residential portfolio acquisition

The loan, to developer ZAR Real Estate, includes capex for an ESG-focused upgrade of the properties.

Apollo Global Management on why Europe faces a year of opportunity

After a period of recalibration, opportunities abound in European real estate lending, says Apollo’s Ben Eppley.

2023 review: Windows of promise in private real estate lending

Our award winners provide an insight into the key lending trends when the market recovers

REC Europe Awards 2023: Advisers

Find out which debt advisers, law firms and loan servicers took the top spots