pbb Deutsche Pfandbriefbank has provided a €63m senior loan to Cerberus Capital Management to refinance three German retail properties. The funds will also be used to refurbish the three shopping centres located in Bielefeld, Bonn and Konstanz.
1 min read · 28 October 2015
The majority of insurance companies surveyed in a new study from BlackRock plan to increase holdings in one or more income-producing private debt strategies. Eighty-two percent of the insurers, comprised of 248 respondents and representing $6.5 trillion in assets, said that they would increase allocations to at least one alternative credit strategy such as commercial real estate debt.
3 min read · 28 October 2015
Jones Lang LaSalle (JLL) has appointed Erik Jacobs to its Capital Markets Hotels & Hospitality Group as it expands its lending advisory business across Europe. Jacobs will be cover hotel transactions across the EMEA region from a debt and equity perspective.
1 min read · 18 September 2015
UK banks are expected to sell up to £35bn of property debt this year, more than double 2014’s £14bn. The predicted figure should see the UK top this year’s European transactions table for real estate debt, expected to total around €120bn, according to PwC’s latest portfolio sales market update.
2 min read · 18 August 2015
The UK property finance market was in a “Goldilocks period”, according to Savills’ Financing Property report 2015. Another 46 new lenders have entered the market in the past year, annual lending was up by more than 50%, senior LTVs remained low and debt was easily accessible, according to the report. Another 46 new lenders have entered the market in the past year, annual lending was up by more than 50%, senior LTVs remained low and debt was easily accessible, according to the report.
2 min read · 02 June 2015
Land Securities increased its debt by £470m to £3.8bn last year but an increase in portfolio valuation by £2bn to £14bn reduced its group LTV from 32.5% to 28.5%. The UK REIT said said in its annual report to 31 March 2015 that the result was consistent with its strategy at this stage in the property cycle of allowing gearing to decline as property values rise.
1 min read · 19 May 2015
Tristan Capital and Avestus Capital Partners have jointly purchased an office park in Poland with a €71m five-year loan from pbb Deutsche Pfandbriefbank. The new facility will be used to acquire Enterprise Park and adjacent development land in Kraków.
1 min read · 19 May 2015
“Off-the-radar” secondary assets in established markets offered the best opportunity for good returns from real estate debt, according to a report by TH Real Estate. The UK Commercial Real Estate Debt report also said the UK property finance market was the largest, most transparent, most competitive and, critically, most creditor friendly in Europe.
1 min read · 12 May 2015
pbb Deutsche Pfandbriefbank has provided an additional €387m of financing to Scandinavian light industrial and warehouse specialist Sagax. “The Scandinavian real estate markets show exceptional stability with increased activities from both domestic and international investors. Sagax is our largest client in the Nordic countries and we can look back on a successful business relationship of more than twelve years. The company has an excellent track record demonstrating a stable and sustainable growth over the years,” said Norbert Müller, pbb’s head of real estate finance, continental Europe West.
1 min read · 08 May 2015
