Insight

Debt remains investors’ preferred access route to real estate, says INREV

Eighty-four percent of respondents to a survey by the organisation expect to increase allocations to credit.

Term Sheet: London office debt changes hands, Macquarie takes The Stage, a global view on the refinancing shortfall

The South Korean junior lender to London’s No 1 Poultry to buy the senior debt in a noteworthy loan sale deal; Macquarie uses its balance sheet to refinance The Stage in London; AEW’s analysis shows Europe faces the largest regional debt funding gap; and more in today’s briefing, exclusively for our valued subscribers.

Kinetic and Kayne Anderson JV originates first Continental European PBSA loan

The partnership, Rhize Capital, has provided a €100m loan for two schemes in Italy.

Do not expect sharp fall in debt costs, experts warn

Expectations of 2024 rate cuts are already factored into base lending rates, according to market watchers.

Savills’ Oakley expects UK to feel the effects of a ‘selective credit crunch’ in 2024

The consultant’s head of commercial research believes lenders will focus on prime ‘beds, sheds and meds’, with many offices difficult to finance.

Puma provides largest loan yet with £72m UK PBSA facility

The specialist lender’s 30-month loan will support the delivery of a 790-bed scheme in Nottingham, UK.

Lenders expected to have limited appetite for German real estate, Berlin Hyp finds

Finance will remain scarce for the next two years, while buyers and sellers disagree on values, according to the bank’s latest sentiment survey.

Term Sheet: Last chance to vote in the REC Europe awards, Brookfield’s Citypoint extension, Scope’s CMBS loans warning

The polls for the Real Estate Capital Europe Awards 2023 close on Friday; Canada’s Brookfield granted a year extension on Citypoint loan amid office market challenges; rating agency Scope outlines refinancing risk across European CMBS loans; and more in today’s briefing, exclusively for our valued subscribers.

Blackstone Italy loans among CMBS with highest refinancing risk, warns ratings agency

Scope Ratings listed six securitised European loans, due to mature this year, as most at risk.

Generali and Grosvenor announce UK residential lending JV

The partnership, which is seeded with an initial £100m, has so far financed a scheme in London’s Docklands.