Insight

Starwood wins extension on €240m Spanish office debt

Noteholders and lenders have voted to extend senior and mezzanine facilities, due to mature on 16 September, on seven office assets near the country’s two main cities

Higher rates dampen fundraising for latest Lone Star fund

The Dallas-based private equity real estate firm cites investor liquidity issues and a keenness to get deploying for the $2.7bn final closing for LSREF VII, less than half its initially reported $6bn target.

RoundShield closes €920m credit vehicle amid ‘challenging’ conditions

The firm’s co-founder says fundraising in today’s market requires more effort than three or four years ago.

Term Sheet: REC Europe’s Active Lenders 2024 launches, French banks refinance Coeur Défense, Starwood seeks CMBS loan extension

Real Estate Capital Europe’s Active Lenders 2024 process kicks off with a call for submissions; a circa €600 million refinancing of the landmark Coeur Défense office complex in Paris demonstrates lender support for trophy assets in the sector; Starwood’s aim to secure an extension to a securitised Spanish loan highlights borrowers’ negotiations with creditors amid challenging market conditions; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Freddie’s CEO pick; Basel III’s recalibration; TYKO’s $527m Miami deal

Finance industry veteran Diana Reid takes on top role at Freddie Mac; Sidelined bank lenders may have more reason to increase lending with the Federal Reserve scaling back Basel III proposals; TYKO Capital has more Miami ambitions with $527 million financing on tap for Related and Integra’s latest condo construction plans; and more in today’s Term Sheet, exclusively for our valued subscribers.

French banks refinance Coeur Défense with €600m-plus loan

The five-year debt facility has been provided by three of the four lenders that provided a €900m loan against the Paris office complex in 2017.

Borrower view: CTP on the lure of unsecured debt

The logistics owner’s CFO and head of investor relations discuss finance market conditions.