Insight

Borrower profile: Whitestone REIT sees higher liquidity for retail centers 

The Houston-based REIT believes secular shifts are driving momentum around smaller retail assets.

Term Sheet: Term Sheet: New York office CMBS hit special servicing; Janus Henderson’s credit acquisition; BridgeInvest’s fund closing

UBS and Citigroup’s commercial mortgage-backed securities loan on the New York midtown office 1500 Broadway hits special servicing this week; BridgeInvest closes its largest-ever real estate private credit fund at $670 million, aiming to execute on more than $1.2 billion transactions over the next two years; DWS hires a senior executive to head US commercial real estate debt; and more in today’s Term Sheet, exclusively for our valued subscribers.

Hammerson and PIMCO refinance Irish shopping centre for €350m

The loan, for Dundrum Town Centre, replaces an existing €570m facility due to mature in September.

ECB finds ‘widespread issues’ in how lenders value commercial real estate

The central bank says valuations should reflect the current market downturn and lack of transaction activity.

Term Sheet: Aareal’s performance, BNP Paribas’ play for AXA IM, a key UK refinancing

German lender Aareal’s latest results provide an insight into market conditions, including for office lending; BNP Paribas’ reported bid for AXA Investment Managers promises to make waves in financial services, including real estate management; Deutsche Bank recoups its capital following a refinancing of Birmingham’s Mailbox; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: KKR’s credit optimism; Deutsche’s loan sale; Trinity’s platform launch

KKR seeks more real estate credit opportunities as the manager’s real asset fundraising momentum holds steady; Deutsche Bank is looking for liquidity with the sale of $1 billion of real estate loans as it reduces exposure to the asset class; Trinity Investments is unveiling its own debt platform with sights on mezzanine, preferred equity as well as special situations opportunities; and more in today’s Term Sheet, exclusively for our valued subscribers.

Related Argent taps NatWest for Kings Cross BtR development refinance

The £85m loan from NatWest will replace existing construction debt from Oaktree Capital Management.

Analysis: Spanish PBSA lending market poised for growth

The country leads European student accommodation investments, while having the lowest bed provision rate on the continent.

Supermarket REIT seeks to diversify debt capital sources

The finance director of the UK company’s investment adviser said diversifying its debt is a ‘natural’ next step.

Barclays originates its largest-ever social housing trade facility for SNG

The unsecured £50m facility will be used for the development of 25,000 new homes over the next 10 years.