Term Sheet

Term Sheet: Swap rates ease for now, Cheyne takes over London scheme, Blackstone plans NEC refinancing

Swap rates have eased on news of an Iran ceasefire but uncertainty persists for real estate borrowing markets; Cheyne is reported to have taken ownership of a London mixed-use scheme; Blackstone appoints an investment bank to lead a major refinancing of the NEC in Birmingham; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: NGC’s Nevada flip; Tikehau and Brodsky’s credit collab; Madison Realty’s senior upgrade

Nuveen Green Capital is backing revitalization plans for the former Cal Neva Hotel in Lake Tahoe with a state-record $223m C-PACE financing; Tikehau Capital and The Brodsky Organization are looking to boost their US real estate credit presence through a $500m initiative; Madison Realty Capital is promoting Samir Tejpaul to spearhead investments across debt and equity platforms; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: PERE Credit’s April-May issue; DOL’s private funds proposal; SBCERA’s resi allocation

First-time and spinout real estate credit managers get their time in the limelight in the cover story of PERE Credit’s April/May issue; The US Department of Labor wants to clarify litigation risks for private fund managers aiming to access the defined contribution retirement plan market; San Bernardino County Employees’ Retirement Association is keeping its real estate allocation pace intact with a $150 million commitment to TPG; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: CTP’s Asian loan, a refinancing for Olympia, BNPP AM Alts on defence spending

Logistics developer CTP taps the Asian banking market for its latest borrowing deal; a refinancing of London’s Olympia project is reported, including a significant equity injection; BNP Paribas AM Alts provides its take on the impact of defence spending on real assets; and more in today’s briefing, exclusively for our valued subscribers.

Loans in focus: New York’s office-to-resi strides; Madison Realty’s East Coast endeavors; Axonic’s Bay Area backing

Derby Lane, BHI and Naftali Credit Partners are adding to New York City’s office-to-residential activity through distinct Manhattan deals; Madison Realty Capital is taking its debt funding across the East Coast to maintain its multifamily and residential exposure; Axonic Capital is backing the Bay Area’s retail market with the refinancing of a San Francisco financial district staple; and more in our round-up of stateside loan deals from the past week.

Term Sheet: The latest data centre securitisation, ING backs a timber frame development, Arini finances UK self-storage

The latest securitisation of European data centre debt gives rise to expectations of growth for the sector’s role in the asset-backed securities market; ING’s latest financing in the London office market sees it back an all-timber frame office scheme; credit firm Arini supports the growth of a UK self-storage platform; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Central bankers hold steady, SCOR corrals commitments, UK REITs stock up

Central bankers hold rates steady as the industry continues to evaluate the impact of the Iran war; France’s SCOR Investment Partners raises capital for value-add lending; two UK REITs announce significant debt deals; survey finds back leverage strategies being rapidly adopted in Europe; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Middle East conflict dominates talk at MIPIM, Savills buys Eastdil, KKR and Puma team up

The crisis in the Middle East is on delegates’ minds at this year’s MIPIM; Savills acquires Eastdil Secured in a $1.1bn deal; KKR partners with Puma Property Finance on a UK residential lending strategy; survey finds back leverage strategies being rapidly adopted in Europe; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: MIPIM’s US reflections; Avila’s sequel milestone; LACERS’ credit commitments

Market participant sentiment at MIPIM shows eyes are focused on the future of the US office sector; Avila Real Estate Capital has more institutional commitments inbound on its path to a $1bn real estate credit strategy raise; LACERS ups its real estate credit allocations with commitments to BDT & MSD Partners and Wolff Company; and more in today’s Term Sheet, exclusively for our valued subscribers.