Term Sheet

Term Sheet: The market reacts to the UK budget; KKR issues £350m to Cain; pbb Deutsche Pfandbriefbank hires Barkha Mehmedagic

The real estate finance market responds to the UK’s 2025 Autumn Budget; KKR issues £350m to Cain to refinance its industrial and logistics portfolio; Barkha Mehmedagic appointed as top commercial real estate financier at pbb Deutsche Pfandbriefbank; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Las Vegas’ vertical growth; Barings and CounterpointeSRE’s collaboration; Peachtree’s retail reach

Sculptor Real Estate, Morning Calm Management and JPMorgan fund a $686m financing package for a Four Seasons-branded Nevada development; Barings and Counterpointe Sustainable Real Estate provide $173m in senior and C-PACE financing for a Philadelphia development; Peachtree Group expands further into the US retail sector; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: European CMBS market booms, a major Nordic mall refinancing, Landsec hits pause on development

The latest securitisation to be launched in Europe adds to the region’s CMBS mini-boom; three banks back a major Finnish shopping mall in a €358 million refinancing; UK developer Landsec cites squeezed returns as it pauses construction; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: PERE Credit’s awards deadline; Tokio’s ACORE stake; McCarthy’s Blackstone exit

Friday’s submission deadline for PERE Credit’s 2025 Awards is quickly approaching for managers looking to be considered; insurance capital is back at work in US markets, this time with Tokio Marine acquiring a majority interest in ACORE Capital; senior real estate leadership is shifting at Blackstone with the imminent departure of global co-head of real estate Kathleen McCarthy Baldwin; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: Awards deadline looms, Tritax taps the bond market, credit takeaways from PERE America

The submissions window for the Real Estate Capital Europe Awards 2025 closes soon; Tritax turns to the bond market to raise fresh capital; credit specialists consider a new cycle at PERE’s New York event; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: CREFC Europe conference takeaways, banks back Portuguese data centre, awards deadline draws near

Capital formation and deployment challenges loomed large at CREFC Europe’s London conference; Lisbon deal provides more evidence of bank appetite for data centres; The nominations deadline for the Real Estate Capital Europe Awards 2025 approaches; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: PERE America’s credit sentiment; Blue Owl’s tactical sweep; Blackstone’s CMBS charge-up

The next real estate credit cycle is approaching and attendees at the PERE Network America Forum signaled high gear shifts in preparation; Blue Owl has sights on DC retirement plan investors as its credit platform continues to grow its reach; Blackstone secures a $1.6bn CMBS and mezzanine package to refinance a 94-property swath of its US industrial portfolio; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: Greystar’s $1.27bn fundraise; TPG’s $1.1bn securitization; X-caliber’s bridge tune-up

Greystar has $1.27 billion of fresh capital on tap to expand its for-rent residential sector presence through its latest private credit strategy; TPG adds a jolt to commercial real estate’s securitized market with an inbound $1.1 billion collateralized loan obligation; X-caliber is retuning its bridge lending program to access more mid-market momentum; and more in today’s Term Sheet, exclusively for our valued subscribers.

Term Sheet: Aareal completes its first SRT, back leverage helps ease refinancing challenges, Bank of England sounds alarm over data centres

German lender Aareal Bank becomes the latest user of the growing real estate SRT market; AEW says back leverage partly explains a reduction in the debt funding gap for European real estate; the Bank of England sounds an alarm over data centre financing and AI-related asset price falls; and more in today’s briefing, exclusively for our valued subscribers.

Term Sheet: Madison’s industrial layering; Invesco’s senior swap; S3’s investor relations addition

Madison Realty Capital is putting its debt strategy to work this year with the close of a $654 million industrial refinancing deal; Invesco is updating its top real estate credit and equity ranks with Bert Crouch set to exit for a leadership role at Apollo; S3 Capital is keeping sights on further real estate credit expansion with the appointment of a fundraising head; and more in today’s Term Sheet, exclusively for our valued subscribers.