Insight

Term Sheet: Blackstone’s mid-market push, CBRE IM’s bumper bond, the word from The District in Barcelona

Blackstone partners with Pluto Finance as it targets exposure to the European real estate lending mid-market; CBRE Investment Management taps the bond market to support its logistics fund; Real Estate Capital Europe reports on the ground from The District in Barcelona; and more in today’s briefing, exclusively for our valued subscribers.

Zenzic targets up to $4bn for evergreen real estate credit fund

The London-based manager’s opportunistic debt vehicle has anchor financing from GCM Grosvenor.

CBRE IM’s European logistics fund raises €500m in debut green bond issuance

The manager said the capital will better support an ambitious growth strategy for the vehicle.

Loans in focus: NorthPark’s Dallas restructure; Brookfield’s Manhattan conversion; New York Life’s San Diego industrial build

A Dallas regional mall is staying in family ownership with the close of a $900m CMBS refinancing and buyout of JPMorgan Asset Management’s stake; Brookfield is fueling a Manhattan office-to-residential conversion project with a $300m loan; New York Life Real Estate Investors is adding fresh industrial stock in San Diego with the close of a $102.4m development financing; and more in our round-up of stateside loan deals from the past week.

ESR Europe sources £103m refinancing amid strong lender appetite for logistics

It is understood the five-year loan was provided by NatWest at 55% LTV.

Loans in focus: ING among trio in €550m student housing financing, Peach Property gets seven-year extension for German residential, Target Healthcare REIT receives £200m

ING, Societe Generale and HSBC Continental Europe issue €550m for purpose-built student accommodation across Europe; Peach Property Group receives a seven-year extension to a €203m loan backed by German residential; Royal Bank of Scotland and HSBC UK provide a £200m loan to Target Healthcare REIT; 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.

LP equity remains the missing link for construction lending 

Debt and equity capital are available for development, but institutional investors are still shying away from new construction.

Target Healthcare REIT secures €200m refinancing amid portfolio readjustment

The debt will be used, alongside capital from the disposal of £85.9m of assets, for future acquisitions.

Blackstone agrees £2bn lending partnership with Pluto Finance

The New York-headquartered manager will use the tie-up to expand in the mid-market lending space in the UK and continental Europe.