Term Sheet

Term Sheet: Blackstone, Paramount’s San Francisco loan extension; Deutsche and BMO launch hotel CMBS; CalPERS sees office valuation headwinds

Blackstone completes refinancing and extension, joining a wave of managers tackling an estimated $659 billion wall of loans maturing this year; Deutsche Bank and BMO Capital Markets co-lead a $333 million hotel portfolio CMBS securitization that signals continued industry interest in travel- and leisure-oriented hospitality; CalPERS feels office sector headwinds as a key New York tower in its portfolio suffers a nearly 12 percent value drop; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: German lenders tested by US woes, Chinese developer nears solution for Nine Elms distress, borrowers and lenders grapple with ESG lending approach

German lender pbb Deutsche Pfandbriefbank’s share price takes a hit as the impact of US banking concerns is felt; Nine Elms developer finds a taker for its London scheme as it struggles with debt repayments; Panattoni reveals blind spots for lenders over green lending; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: US regional banks back in the headlines, more fallout from Signa, fundraising at a low

The surprise loss made by US lender New York Community Bancorp reignites concerns for US regional lenders; the repercussions of the failure of Austria’s Signa continue to be seen; global real estate fundraising figures illustrate a tough 2023 for capital raisers; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Apollo-financed scheme goes into administration, Alantra wins a capital boost, former MARK executive launches a venture

A luxury London apartment scheme backed by an Apollo loan becomes the latest example of distress in the market; Alantra attracts family office capital to grow its debt platform in a signal of credit’s allure to investors; former MARK executive Mark Gamble aims to help lenders through his new venture; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: ECB’s credit warning, lenders taking keys on UK properties, BGO exceeds fundraising target

The European Central Bank’s latest warning on commercial real estate points to tighter lending conditions ahead; two lenders reported to have taken control of UK assets from borrowers in a sign of things to come; BGO defies a tough capital raising environment to exceed the equity target for its latest fund; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: London office debt changes hands, Macquarie takes The Stage, a global view on the refinancing shortfall

The South Korean junior lender to London’s No 1 Poultry to buy the senior debt in a noteworthy loan sale deal; Macquarie uses its balance sheet to refinance The Stage in London; AEW’s analysis shows Europe faces the largest regional debt funding gap; and more in today’s briefing, exclusively for our valued subscribers.