Debt

The German manager warned a higher-for-longer environment could restrict liquidity.

Market participants at the global trade show, being held this week in Munich, are seeing sustained interest in real estate credit strategies amid ongoing conflicts in Ukraine and the Middle East.

Retail investors may be reducing their private market exposure for now, but many real estate debt professionals are optimistic they can tap retail cash through semi-liquid fund structures over the longer term.

As banks retreat from parts of the market, private lenders are filling the gap with flexible capital and through greater interaction with public markets, argue PIMCO’s Roman Kogan and Seray Incoglu.

Data centers are big business and require big finance, writes JC Russell.

Higher rates, refinancing pressures and structural market shifts mark the current dynamic in private real estate credit, according to Goldman Sachs’ Andrew White and Steve Pack.

Funded by two bank lenders, the deal marks one of the largest ever development loans in the London office market.

The warehouse specialist arranged the loan for its Delin Dutch Logistics Partners Fund.

While the agencies and banks continue to be the most active lenders, debt funds saw volumes rise by 45% year-on-year, Newmark data reports.