Insight

Term Sheet: Benefit Street’s $3bn fundraise; NGC and Mavik’s DC collaboration; SL Green’s CMBS boost

Benefit Street Parters has stacked $3 billion in capital commitments at final close across vehicles linked to its flagship US real estate debt series; Nuveen Green Capital and Mavik Capital Management are funding a Washington, DC office-to-residential project with $575 million of financing; SL Green secured a $480 CMBS loan to bulk its Manhattan office portfolio with a Park Avenue Tower addition; and more in today’s Term Sheet, exclusively for our valued subscribers.

Goldman Sachs provides Puma with first back leverage facility

The £100m loan backs the Puma Real Estate Secured Credit vehicle, which reached first close in December.

Term Sheet: Data centres attract more than €2bn, Blackstone kicks off the 2026 CMBS market, Nuveen gets another global head of debt

Our first edition of 2026 brings news of major data centre financings in Ireland and Germany, with more than €2bn of financing across two deals; Blackstone sponsors the first European CMBS launched in 2026; Nuveen appoints its next global head of real estate debt; and more in today’s briefing, exclusively for our valued subscribers.

Loans in focus: Bank lenders’ Hudson Yards trophy office build; Nuveen Green’s Miami C-PACE origination; Bank of America’s Atlanta office CMBS

A trio of bank lenders is doubling down on Hudson Yards’ new office development with a $1.6 billion loan; Nuveen Green Capital continues its C-PACE origination momentum with a $124.2 million financing for a Wynwood multifamily in Miami; Bank of America is backing an Atlanta office tower with a $245 million CMBS loan; and more in our round-up of stateside loan deals from the past week.

Lender club including NORD/LB provides €1.8bn data centre financing

The loan refinances German operator Maincubes’ existing portfolio and allows for further expansion.

Hillwood Poland obtains its largest acquisition financing to date

The €155m financing from Bank Millennium supports the acquisition of four Polish logistics assets.

First European CMBS deal of 2026 launches

The transaction will finance a Blackstone-owned logistics portfolio.

‘The market will not change overnight’: Recovery drags in 2026 as geopolitical strife persists

Hines’ David Steinbach joins The PERE Podcast to discuss real estate’s cautious outlook for the year ahead.

Loans in focus: Deutsche Bank provides €415m for Dublin scheme; SMTB issues £360m for London office; Ares backs Irish data centres

Deutsche Bank provides a €415 million loan to refinance Dublin’s former Irish Glass Bottle site; Sumitomo Mitsui Trust Bank provides a £360 million (€415 million) facility for a West End London office scheme and Ares issues Astra Partners with a €340 million facility to fund the construction of a data centre in Ireland. Plus: the latest additions to the Real Estate Capital Europe lending database; and more in our round-up of European loan deals over the past three weeks since our last update on 19 December.