Insight

Term Sheet: ECB’s credit warning, lenders taking keys on UK properties, BGO exceeds fundraising target

The European Central Bank’s latest warning on commercial real estate points to tighter lending conditions ahead; two lenders reported to have taken control of UK assets from borrowers in a sign of things to come; BGO defies a tough capital raising environment to exceed the equity target for its latest fund; and more in today’s briefing, exclusively for our valued subscribers.

Branicks asks creditors to defer payment on €425m of debt

The German listed company is seeking to secure new terms on a bridging facility and bond debt maturing in 2024.

Inside the deal: Macquarie takes on refinancing of Cain’s The Stage

The Australian firm was sole provider of a £188m loan for the residential part of the London scheme.

Logicor issues €650m bond ahead of 2024 debt maturities

The logistics specialist has around €800m of unsecured debt due to mature in 2024.

Inside DRC Savills’ plan to expand US lending platform

The London-based manager is targeting US commercial real estate debt originations via a partnership with Quadrant Real Estate Advisors.

ECB: Lending conditions to become tighter for real estate borrowers

Refinancing risk will drive a further tightening of credit conditions, according to the central bank.

Tristan fully deploys €500m TIPS One debt fund

The London-based manager has refinanced Apache Capital Partners’ and Moda’s BTR scheme in Birmingham.

AEW: Europe faces the world’s largest relative debt funding gap

An expanded analysis of the refinancing shortfall shows the situation is more acute in Europe than in the US or Asia-Pacific.

Alantra targets €200m for second property debt fund

The Spanish firm is aiming to raise more than the €160m it attracted for its debut fund.

LRC defaults on CMBS loan backed by green office property in Paris

Mount Street placed the securitised loan, originally issued by Goldman Sachs, into special servicing when it matured on 15 January.