Insight

Term Sheet: Wembley Park gets £775m preferred equity injection, Supermarket REIT refinances £170m of debt, PIMCO warns of long road to recovery

US private equity firms make £775m preferred equity investment in London’s Wembley Park; Supermarket REIT refinances with a mix of private placement and bank debt; the value of the Walkie Talkie falls by £400m since 2017; PIMCO tells lenders and borrowers to “face the music”; and more in today’s briefing, exclusively for our valued subscribers.

Analysis: KKR calls the end of the real estate beta trade

The report, penned by senior executives Ralph Rosenberg, Billy Butcher and Racim Allouini, underscores how low interest rates are no longer the anchor for valuating commercial real estate assets.

Santander AM debt fund originates first loan in Ireland

The loan will refinance debt on a Dublin co-living property, an emerging segment of the residential sector.

Term Sheet: 830 Brickell’s debt recharge; Powell’s rate expectations; Ares’ Manhattan refinance

Miami retains its financing spark with Tyko Capital and Security Benefit stepping up to refinance OKO and Cain’s 830 Brickell trophy office; Jerome Powell hints at September rate cut following the Federal Reserve’s July hold; Ares and Douglaston secure a $560 million refinance for a Manhattan luxury residential tower; and more in today’s Term Sheet, exclusively for our valued subscribers.

US private equity firms inject £755m of capital to complete Wembley Park

The ‘significant’ capital injection allows Quintain to finalise the latest phase of the 85-acre estate.

Inside the deal: Apsys redevelops Bordeaux urban area with €347m green loan

Apsys CFO says lenders to the Canopia project were convinced by its ‘pioneering’ environmental credentials.

Term Sheet: Atlas’s $985 million Manhattan loan; Kayne Anderson’s key hire; Walker & Dunlop’s student housing surge

The lower Manhattan skyline is set to be reshaped, with Atlas Capital Group lining up $985 million of financing from Cale Street and Farallon for dual residential tower creation; Kayne Anderson Real Estate has new debt leadership with Lee Levy on tap from Goldman Sachs Asset Management; Walker & Dunlop gets creative to finance pair of Philadelphia area student housing deals with senior loan and preferred equity stakes; and more in today’s Term Sheet, exclusively for our valued subscribers.

Deutsche Bank: Loan loss provisions higher than expected

The chief executive of the Frankfurt-headquartered bank said he has not seen the recovery in 2024 he had expected.

Term Sheet: Fresh capital for Aldgate Tower, Cheyne’s major hotel loan, ADIA gets behind Arrow

The owner of London’s Aldgate Tower agrees to inject equity as the loan against the office building comes due; Cheyne Capital joins forces with an insurer in a large-scale London hotel sector refinancing; ADIA puts further emphasis on real estate debt with a commitment to Arrow Capital’s lending strategy; and more in today’s briefing, exclusively for our valued subscribers.

BF.capital puts the focus on transition with its second debt fund

Subsidiary of debt advisory firm BF.direkt has launched a debt fund to assist German developers with improving the energy efficiency of their portfolios.