Insight

FSB fears over ‘extend-and-pretend’ are misplaced, says CREFC Europe chief

Chief executive of real estate finance body criticises a Financial Stability Board review into commercial real estate risks.

Term Sheet: Kayne Anderson’s $1.69bn fundraise; Section 899’s real estate impact; Affinius’s SoCal stipend

Kayne Anderson shows real estate debt fundraising momentum remains intact this week with a $1.69 billion opportunistic fund close; President Donald Trump’s ‘Big Beautiful Bill’ could hinder foreign investment for US-based real estate managers; Affinius reunites with Bank OZK on a Southern California multifamily development with a $54.7 million preferred equity investment; and more in today’s Term Sheet, exclusively for our valued subscribers.

Borrower view: Nido Living on securing €700m for its Spanish PBSA takeover

CFO Ryan Lee says banks were eager to support the company’s purchase of Livensa from Brookfield.

Term Sheet: Tritax Big Box REIT sources debt for Warehouse REIT takeover; Blackstone and Starwood explore CMBS deals; Art Capital makes back leverage hire

Tritax Big Box REIT has arranged a major financing facility for its takeover of Warehouse REIT; Blackstone and Starwood’s proposed CMBS deals suggest the securitisation is viewed as a viable financing option in today’s market; London-based adviser Art Capital caters to users of back leverage with a new hire; and more in today’s briefing, exclusively for our valued subscribers.

Coima’s debt purchase unlocks Venice hotel revamp

A €200m investment plan is in place to renovate the historic Grand Hôtel des Bains.

Two £400m logistics RCFs signal bank lender appetite for the sector

L&G and Tritax secure refinancings for their respective industrial strategies.

Loans in focus: Apollo finances Spanish residential takeover, Crédit Agricole backs Iberian student housing, KKR and Stonepeak line up Assura deal financing

Apollo Global Management provides circa €750 million to fund Neinor Homes’ acquisition of a rival listed Spanish residential developer; Crédit Agricole arranges €700 million to finance the acquisition of Brookfield Asset Management’s Iberian student housing platform; Jefferies International agrees to provide KKR and Stonepeak with £125 million (€146 million) for the firms’ planned takeover of Assura; 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.

CapMan’s majority stake purchase in Caerus marks entry into real estate debt

It is expected CapMan will allocate a portion of capital to Caerus’s eighth fund.

Term Sheet: CapMan buys majority of Caerus, pbb closes in on manager acquisition, Apollo lends big in Spain

Finnish manager CapMan has gained real estate debt exposure through a majority purchase of Caerus Debt Investments; pbb Deutsche Pfandbriefbank is in advanced talks to buy a manager as it diversifies; Apollo Global Management lends against a major Spanish acquisition deal; and more in today’s briefing, exclusively for our valued subscribers.