Insight

Term Sheet: Goldman joins 2021’s CMBS drive; CBRE GI eyes debt growth; European alternative lending pioneer Barakat to leave M&G

Goldman Sachs launches a pan-European offices securitisation; CBRE Global Investors makes key hires as it targets lending growth; John Barakat to leave M&G; and more in today’s briefing, exclusively for our valued subscribers.

Yield-hungry investors fuel 2021’s European CMBS market

Commercial mortgage-backed securities issuance in Europe is gaining traction, with six deals launched so far this year.

M&G appoints real estate finance co-heads as team chief Barakat departs

Duncan Batty and Dan Riches will be taking on John Barakat’s role at M&G as he leaves the property lending platform he set up 12 years ago.

Term Sheet: More UK property debt enters underperforming territory; AEW wins landmark victory; Nuveen prepares to hit debt fundraising trail

Welcome to the first edition of Term Sheet, the new weekly newsletter from Real Estate Capital, for valued subscribers only, landing in your inbox every Wednesday. Starting with a look at data on the UK’s underperforming property loans, AEW’s legal win over non-payers of rent and Nuveen’s plans for a new credit fund.

ASK’s Austin: Financing repurposing minimises lenders’ construction risk

Following its financing of a regional UK office-to-residential conversion, the lender’s chief executive says repurposing projects are creating opportunities for debt providers.

UK lending report: Loan market has reached the bottom

The report, compiled by The Business School, formerly known as Cass, reveals new UK lending dropped 23% to £33.6bn in 2020.

Trend watch: Canary Wharf’s green bond, Helaba’s office mega-deal, and Knight Frank’s capital advisory push

Among the past week’s noteworthy items, the owner of the biggest business estate in London’s Docklands raised £900m through its first green bond issuance.

Helaba’s Müller: There is fierce competition to finance trophy assets

The bank’s head of real estate finance for Germany’s regions says it faced stiff competition to back the €700m Silberturm tower purchase in Frankfurt.

Knight Frank targets capital advisory growth with new European division

The consultancy has hired former JP Morgan and Deutsche Bank real estate banker Birju Shah to lead a combined debt and equity unit.

Trend watch: UK lenders’ cautious bullishness, pbb backs non-core European logistics, Barings’ debt mandate

Among the past week’s most noteworthy items, Link Group’s latest debt survey found that most UK debt providers expect to increase loan originations in 2021 despite the persisting pandemic.