Lending

Four measures of how the real estate finance market is holding up

Syndication is slow and capital value forecasts are bleak, but CMBS transactions remain liquid and real estate is expected to retain relative value.

Debt specialists fear a rise in forbearance requests in next payment cycle

UK real estate finance specialists, speaking on a recent webinar, expect request for covenant waivers and interest payment holidays to increase in June and July.

Cass report tells us the UK lending market entered today’s crisis in decent shape

The business school’s end-year 2019 survey results show defaults were on the rise pre-covid-19, but that the market entered the crisis in a nonetheless stable state.

Lenders keep faith with London’s super-prime hotels in £340m loan deal

The long-term refinancing facility for the Connaught and the Berkeley, two of London’s most luxurious hotels, was arranged by US bank Citi.

German lenders raise pricing to deal with higher risk

Sentiment among Germany’s real estate lenders has plummeted, although those closing transactions are reported to have raised loan margins.

How Kayne Anderson raised a $1.3bn real estate debt fund in two weeks

Last month’s real estate debt fire sales at the outset of the covid-19 outbreak in the US were just the tip of the iceberg for private real estate.

Natixis Pfandbriefbank finances Henderson Park’s Berlin office purchase – Exclusive

The lender provided €129.5m to fund the private equity firm’s latest German investment.

Covid-19 to fuel an increase in UK property loan defaults – Cass

Losses and write-offs on retail debt could reach £10bn, while £22bn of development loans face delays, the latest UK lending market report by Cass Business School predicts.

Ten things we have learned from our covid-19 coverage so far

Lenders are facing calls to grant interest payment holidays, force majeure is on people’s minds, and operational property is expected to be hardest hit.

Covid-19 crisis expected to expose overleveraged sponsors

Borrowers with financially engineered performances face covenant breaches amid a market correction, warns AXA IM – Real Assets’ head of research and strategy.