Insight

Loans in Focus: PGIM’s Tampa tack; Times Square’s CMBS restack; Mesa West’s mile-high capitalization

PGIM Real Estate is putting debt capital to work this week with a $110 million refinancing package for a mixed-use tower in downtown Tampa; The Durst Organization is adding to refinancing momentum in New York City’s Times Square with a $1.3 billion CMBS refinancing deal; Mesa West originates a $52 million loan in Denver to refinance a Crow Holdings Capital-affiliated multifamily asset; the latest additions to the PERE Credit lending database; and more in our round-up of loan deals from the past week.

Delancey, Cynergy form targeted £1.5bn lending partnership

The joint venture demonstrates increased collaboration between banks and alternative lenders.

Pbb funds €322m CEE logistics package as regional pricing premium emerges

Dieter Knittel, the head of Central and Eastern European at the lender, told REC Europe there is better relative returns in the region than in Western European markets.

Blackstone prices milestone UK CMBS deal

The £1.5bn securitisation is the largest UK commercial mortgage-backed securities deal in more than 10 years.

Real estate debt remains strong as private debt fundraising falters

Private lenders are poised to snap up $1trn of CRE mortgages in the next three to five years, says Moody’s.

Castleforge’s Kovacs sees ‘dramatic’ increase in office financing availability

The firm’s £183m bank-led refinancing for its flex office portfolio would not have been possible even one year ago, said Castleforge’s founding partner.

Loans in focus: pbb issues €322m for eastern European logistics, Deutsche Bank provides £1.25bn loan for Olympia revamp, Brookfield-backed aparthotel operator gets €322m

pbb Deutsche Pfandbriefbank issues a €322 million debt package secured by Eastern European logistics; Deutsche Bank provides a £1.25 billion (€1.44 billion) loan to refinance London’s Olympia exhibition centre in one of the biggest debt deals of the year; Societe Generale and Royal Bank of Canada underwrite aparthotels owned by Edyn, a Brookfield-backed hospitality operator; the latest additions to Real Estate Capital Europe lending database; and more in our round-up of European loan deals from the past week.

Term Sheet: Nuveen’s third C-PACE fund; S3’s capital call-up; Canyon’s Chicago capitalization

Nuveen Green Capital has lined up $785 million to expand its C-PACE lending presence across the stateside financing market; S3 Capital is teeing up a 2026 final close with $730 million of commitments already on tap for its latest credit fund; Canyon Partners keeps multifamily lending steady with a $106.3 million loan closing in Chicago; and more in today’s Term Sheet, exclusively for our valued subscribers.

How to be an unforgettable real estate leader

Blackstone’s Wesley LePatner is gone too soon, but she made a lasting impact on the industry in myriad ways.

Term Sheet: Deutsche Bank issues Olympic-sized loan, MSCI finds tariffs impact on investment numbers, UK borrowers will suffer from rent review ban, warns CBRE

Deutsche Bank’s refinances London’s Olympia centre in one of the biggest debt deals of 2025; MSCI reveals Europe’s commercial real estate investment suffered from ‘Liberation Day’; CBRE warns of the consequences on real estate lending from a ban on upwards-only rent reviews; Hilco Real Estate Finance significantly reduces its lending rates; and more in today’s briefing, exclusively for our valued subscribers.