Insight

Banks are in a better place but we are not out of the woods

Banking fortunes are again connected to those of real estate, but any suffering should not be worse during the global financial crisis, suggests Tony Brown, global head of M&G Real Estate.

Term Sheet: Fears build over US banking crisis and real estate recession, equity investors spy credit opportunity at PERE Europe Forum, major declines in European investment volumes

US bank lending conditions tighten further prompting concern across financial markets; Sweden’s SBB fails to convince ratings agency with its deleveraging drive; the UK debt opportunity seduces yet another equity investor; lending looms large at the PERE Europe Forum; and more in today’s briefing, exclusively for our valued subscribers.

Sienna adjusts fundraising expectations for debt vehicle amid tougher market conditions

The manager, which initially targeted €400m for its sixth property credit fund, now expects to raise up to €300m by final close this year.

Ashby Capital sets up UK lending platform

London-based Ashby Capital assembles a property debt platform for to provide mezzanine and development finance to the UK.

Why Newstead is aiming to attract institutional capital to UK regional development

The specialist fund manager is aiming to raise capital from pension funds and insurance companies to finance smaller-scale UK residential projects.

Term Sheet: Is the US banking crisis really over? Blackstone’s gain in Spain, ECB lending survey revealed

Financial markets remain unsettled following the collapse of First Republic Bank; more refinancing success for Blackstone in Spain; Oaktree lands large capital pile for European lending spree; the view from the Deutsche GRI gathering in Frankfurt; European lenders reflect caution in the ECB’s latest lending survey; and more in today’s Term Sheet, exclusively for our valued subscribers.

Aprirose sets sights on property lending debut with key hire

Former RBS banker Gareth Taylor has joined the firm as head of real estate debt.

ING leads €725m financing syndicate for data centres in Europe

The multipurpose loan is expected to finance expansion plans of London-based data centre business AtlasEdge.

SBB’s Batljan: ‘Debt funds will never get a foothold in the Nordic real estate market’

The Swedish property company’s chief executive says alternative lenders will be thwarted in their attempts to break into the bank-dominated market.

Silverstein Capital Partners closes $528m construction loan for Hawaii resi project

The New York-based lender has added exposure in Honolulu’s Ala Moana submarket with one of the largest deals signed so far in 2023.