Insight

Term Sheet: Kennedy Wilson’s take-private; Makarora and Ares’ Plymouth refi; Virginia’s ACORE allocation

Kennedy Wilson is being acquired in a Fairfax Financial-funded deal that will privatize a still-growing real estate debt and equity platform; Chad Pike’s Makarora and the credit arm of Ares Management are heading to the CMBS market for a refinance of assets linked to Plymouth REIT; ACORE Capital taps into repeat allocator channels with a $250 million commitment from Virginia Retirement System; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: pbb reports on costly fallout of US exit, Nuveen and Schroders merger creates €10bn debt platform, CBRE says refinancing activity continues to dominate

pbb Deutsche Pfandbriefbank declares its exit from the US commercial real estate market is a costly exercise; Nuveen and Schroders merger creates €10 billion European real estate debt platform; refinancing activity continues to dominate lending activity, says CBRE; and more in today’s briefing, exclusively for our valued subscribers.

Maslow targets London PBSA developments with £116.6m facility

The loan is the second time the lender has issued debt to developer YourTRIBE.

Davison to rejoin Delancey as Farinola leaves

Lesley Davison previously spent 14 years as director of banking and treasury at the firm.

Affinius targets $2bn of lending following first European loan

The US firm lent £80m to HIG and Primus Property Group, refinancing their PBSA portfolio.

Loans in focus: L&G refinances central London offices, Finland’s Kojamo secures €600m, COIMA issued with €340m

L&G refinances a central London office complex with a £385 million (€344 million) loan; Finnish residential firm Kojamo secures €600 million facility via a club deal; Milan’s COIMA secures €340 million of debt across two facilities; 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.

Delancey launches transitional and bridge lender AlbionArc

The UK property firm aims to provide 12- to 36-month loans of above £10m.

Term Sheet: Nuveen’s $13.5bn Schroders acquisition; Blackstone’s Vegas stakes; Derby Lane’s office exchange

Real estate manager consolidation is kicking off this year as a ripple effect of Nuveen’s $13.5 billion planned acquisition of Schroders; top-tier Las Vegas hospitality assets are getting another Blackstone-linked capital boost with a $3.05 billion CMBS refinancing inbound for the Cosmo; Derby Lane Partners has joined New York City’s office-to-residential financing wave with a $191.4 million loan for GFP Real Estate; and more in today’s Term Sheet, exclusively for our valued subscribers.