Term Sheet

Term Sheet: Exciting news about our future coverage, award winners revealed, industry faces greater geopolitical uncertainty

A major change is announced for the future of our coverage of the real estate credit industry; the winners across the 27 categories of the Real Estate Capital Europe Awards 2025 demonstrated their successes amid a challenging market backdrop; the crisis in the Middle East adds significant uncertainty to an already volatile geopolitical situation; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: NYC’s pending super-stacks; allocators’ debt attention; self-storage’s prime moment

Institutional financiers are getting an early look at New York’s next trophy office capital stacks with fresh details around 2 World Trade Center and a Ken Griffin-led venture behind 350 Park Avenue; Montana Board of Investments and LACERS ink fresh commitments to commercial real estate credit funds to spur allocation activity; The self-storage sector is gearing up for a bigger mainstream moment as lenders anticipate increased transaction and financing flow; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: NatWest’s SRT plans, Blackstone’s social housing CMBS, Quintain’s Wembley loan

UK bank NatWest is reported to be exploring a commercial real estate synthetic risk transfer transaction; Blackstone turns to the CMBS market to refinance social housing units; Quintain sources finance for assets at its Wembley Park build-to-rent estate; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Kennedy Wilson’s take-private; Makarora and Ares’ Plymouth refi; Virginia’s ACORE allocation

Kennedy Wilson is being acquired in a Fairfax Financial-funded deal that will privatize a still-growing real estate debt and equity platform; Chad Pike’s Makarora and the credit arm of Ares Management are heading to the CMBS market for a refinance of assets linked to Plymouth REIT; ACORE Capital taps into repeat allocator channels with a $250 million commitment from Virginia Retirement System; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: pbb reports on costly fallout of US exit, Nuveen and Schroders merger creates €10bn debt platform, CBRE says refinancing activity continues to dominate

pbb Deutsche Pfandbriefbank declares its exit from the US commercial real estate market is a costly exercise; Nuveen and Schroders merger creates €10 billion European real estate debt platform; refinancing activity continues to dominate lending activity, says CBRE; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Nuveen’s $13.5bn Schroders acquisition; Blackstone’s Vegas stakes; Derby Lane’s office exchange

Real estate manager consolidation is kicking off this year as a ripple effect of Nuveen’s $13.5 billion planned acquisition of Schroders; top-tier Las Vegas hospitality assets are getting another Blackstone-linked capital boost with a $3.05 billion CMBS refinancing inbound for the Cosmo; Derby Lane Partners has joined New York City’s office-to-residential financing wave with a $191.4 million loan for GFP Real Estate; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: Brookfield aims to sell CMBS-financed tower, Affinius gets off the mark, data centres tipped as a securitisation target

Brookfield is reported to be close to selling Citypoint, the London office tower that secures outstanding CMBS debt; US manager Affinius writes its first European property loan; Morningstar expects data centres to play a significant role in securitisation; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Private credit’s residential resolution; Apollo’s in-house deal; CSIM’s real estate alignment

The February/March edition of PERE Credit’s magazine breaks down opportunities in the residential sector as affordability and availability issues persist; Apollo Global Management is shuffling its real estate debt lines with ARI’s move to sell a $9 billion loan portfolio to affiliate Athene; CenterSquare Investment Management is blending its private real estate debt and equity teams under a fresh co-CIO; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: The Squaire debt deferred, Apollo’s $9bn loan transfer, Alantra corrals capital

The owner of Frankfurt’s mixed-use The Squaire is granted more time to repay its securitised debt; Apollo shifts $9 billion of commercial real estate loans from the public to the private market; Alantra holds a first close on its latest debt fund as it aims to expand its lending across Europe; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Fed’s rate review; Invesco’s ex-Nuveen senior hire; NYSTRS’ SL Green allocation

Federal Reserve chair Jerome Powell affirms a hold on interest rate changes as private real estate credit managers look for more stability; Invesco is bolstering client relations lines with the addition of Carly Tripp, former global CIO of Nuveen Real Estate; SL Green and a pair of other real estate debt fund runners pick up commitments from New York Teachers’ Retirement System allocation wave; and more in today’s Term Sheet, exclusively for our valued subscribers.