Insight

Chatham Financial: Iran conflict drives rise in lender caution

Margins remained stable during Q1, but the firm has observed growing nervousness around agreeing loan terms.

Loans in focus: Bank Pekao backs Panattoni’s Polish development, NIB issues its first sustainability‑linked real estate loan, OakNorth finances temporary housing provider

Bank Pekao issues Panattoni with a €22.5 million development loan for a build-to-suit manufacturing project in Łódź; Nordic Investment Bank provides its first sustainability-linked real estate loan; OakNorth writes £28.5 million (€32.7 million) of debt to a specialist provider of short-term supportive housing in the UK; the latest additions to the Real Estate Capital Europe lending database; and more in our round-up of European loan deals from the past week.

PIMCO Prime’s Sobel: ‘No lender can pretend nothing is going on in its loan book’

In her first interview since becoming head of European debt, Debora Sobel discusses managing existing loans amid volatility and lending in a competitive market.

Term Sheet: Swap rates ease for now, Cheyne takes over London scheme, Blackstone plans NEC refinancing

Swap rates have eased on news of an Iran ceasefire but uncertainty persists for real estate borrowing markets; Cheyne is reported to have taken ownership of a London mixed-use scheme; Blackstone appoints an investment bank to lead a major refinancing of the NEC in Birmingham; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: NGC’s Nevada flip; Tikehau and Brodsky’s credit collab; Madison Realty’s senior upgrade

Nuveen Green Capital is backing revitalization plans for the former Cal Neva Hotel in Lake Tahoe with a state-record $223m C-PACE financing; Tikehau Capital and The Brodsky Organization are looking to boost their US real estate credit presence through a $500m initiative; Madison Realty Capital is promoting Samir Tejpaul to spearhead investments across debt and equity platforms; and more in today’s Term Sheet, exclusively for our valued subscribers.

Loans in focus: JPMorgan’s Brooklyn advance; NGC’s Nevada C-PACE; 3650’s preferred Chicago piece

JPMorgan Chase takes out Madison Realty Capital’s construction loan on a downtown Brooklyn multifamily tower with a $765 million financing; Nuveen Green Capital helps redevelop a historic hotel property in Lake Tahoe with a $223 million C-PACE loan; 3650 Capital originates a $104 million preferred equity investment to support a Chicago apartment portfolio; and more in our round-up of stateside loan deals from the past week.

Loans in focus: Cheyne issues €288.6m in Paris; London’s Olympia receives £925m refinancing; CTP secures loan for Vietnamese expansion

Cheyne Capital provides a €288.6m loan to support a value-add repositioning of Parisian asset; Deutsche Bank issues £925m (€1.1bn) secured by London’s Olympia; SMBC leads Asian lender consortium to provide logistics developer CTP with €280m financing; the latest additions to the Real Estate Capital Europe lending database; and more in our round-up of European loan deals from the past week.

Term Sheet: PERE Credit’s April-May issue; DOL’s private funds proposal; SBCERA’s resi allocation

First-time and spinout real estate credit managers get their time in the limelight in the cover story of PERE Credit’s April/May issue; The US Department of Labor wants to clarify litigation risks for private fund managers aiming to access the defined contribution retirement plan market; San Bernardino County Employees’ Retirement Association is keeping its real estate allocation pace intact with a $150 million commitment to TPG; and more in today’s Term Sheet, exclusively for our valued subscribers.