Managers

The Bank of England has warned global falling property values could lead to losses for creditors, echoing concerns shared by the European Central Bank.

The UK and South African bank is raising capital from investors to acquire real estate assets on a deal-by-deal basis.

However, investor preferences and strategies have been changing as the country’s negative interest rate era comes to an end.

PIMCO will invest the fund’s capital across Europe via its dedicated data center development and operating company Apto.

The acquisition comes eight months after the launch of the vehicle, which has a $5bn target, in August 2023.

The venture is backed by two sovereign wealth funds and follows a 2021 industrial partnership with the same investors.

Options for alternative lenders to capitalize on the opportunity in real estate debt are taking longer than expected to manifest in Europe.

Although the firm will continue to own other parts of ARA Asset Management, the APF sale itself includes notable exclusions.

Henderson Park has purchased the Arizona Biltmore Hotel, former haunt of Marilyn Monroe and Frank Sinatra, from Blackstone for $705m.

Angela Johnson will focus on cultivating new investment opportunities emerging in the US hospitality sector.