Mezzanine lenders fill out the capital stacks on a pair of Bank OZK West Coast industrial construction loans this week; Cain International is betting on office construction lending and lines up a $500 million loan for a Beverly Hills mega-project; Shorenstein faces foreclosure after defaulting on a New York office tower; and more in today’s Term Sheet, exclusively for our valued subscribers.
5 min read · 21 March 2024
Sunny skies in Cannes belie debt manager frustrations; the European Central Bank warns of struggles ahead for commercial real estate in a higher-for-longer rate environment; Vonovia losses provide insight into how German real estate firms are coping; and more in today’s briefing, exclusively for our valued subscribers.
8 min read · 20 March 2024
The future of New York Community Bank’s commercial real estate debt portfolio remains unclear even though a Steve Mnuchin-led $1 billion bail-out adds stability; Barry Sternlicht’s Starwood Property Trust keeps up its real estate debt efforts after originating a $118 million refinance for Scott Rechler’s RXR Realty; MIPIM sentiment teeters toward the positive as lenders and borrowers show more appetite to ramp up transactions; and more in today’s Term Sheet, exclusively for our valued subscribers.
5 min read · 15 March 2024
Industry professionals at MIPIM in Cannes expect better financing conditions ahead; US manager Apollo increases its focus on European real estate debt with a dedicated fund; AXA IM Alts taps the development finance market for a major London scheme; and more in today’s briefing, exclusively for our valued subscribers.
9 min read · 13 March 2024
The industrial sector shows why it remains a lending beacon, this week drawing a Blackstone-sponsored $2.35 billion CMBS deal; Lightstone Group joins the wave of managers launching rescue capital platforms with sights set on disrupted capital stacks; Starwood continues its show of force, this week originating a $252 million refinancing package for Houston’s TC Energy Center office tower; and more in today’s Term Sheet, exclusively for our valued subscribers.
6 min read · 07 March 2024
The winners of the Real Estate Capital Europe Awards 2023 highlight the industry’s successes during a tough year; German’s Aareal Bank divulges the impact on its figures of lending against US offices; we delve into the shift in attention within the private real estate industry towards credit strategies; and more in today’s briefing, exclusively for our valued subscribers.
6 min read · 06 March 2024
In a major move for a real estate debt specialist, Blackstone’s Jonathan Pollack is heading to Starwood; researchers at manager AEW publish figures around the likely scale of defaults and loan losses in the European property lending market; manager ICG Real Estate looks towards Continental European lending as it aims to raise €2 billion for its next fund; and more in today’s briefing, exclusively for our valued subscribers.
7 min read · 29 February 2024
The wave of senior executive shake-ups seen so far this year continues as Blackstone’s head of structured finance, Jonathan Pollack, leaves the firm, with plans to join Barry Sternlicht’s Starwood Capital next year; Former Silverstein Properties chief executive Marty Burger outlines plans to build a debt platform as well as pursue office-to-residential conversion opportunities via his new firm, Infinity Global Real Estate Partners; Maverick Real Estate Partners buys a $247 million slice of the Signature Bank loan portfolio acquired last year by a Blackstone-led joint venture; and more in today’s Term Sheet, exclusively for our valued subscribers.
5 min read · 29 February 2024
The Fed’s scrutiny of US banks’ retail loans does little to quell concerns about contagion; pbb Deutsche Pfandbriefbank remains in the spotlight as a short seller says the bank needs to come clean about problem loans; Davidson Kempner could be the next big name to target real estate lending; and more in today’s briefing, exclusively for our valued subscribers.
8 min read · 22 February 2024
Arbor Realty Trust shows US regional banks are not the only lenders facing increased scrutiny after logging higher-than-expected loan delinquencies and borrower troubles; Greystone Commercial Capital catches a wave on Miami’s lending momentum with $419.6 million refinancing deal for Florida East Coast Realty’s Panorama Tower; Starwood Capital and Artisan Ventures run into more Los Angeles office troubles with default on financing from MetLife Investment Management; and more in today’s Term Sheet, exclusively for our valued subscribers.
7 min read · 22 February 2024
