Europe

Debt providers are converging on favored types of real estate, the consultant said at its latest Financing Property event.

But aggregate repricing in the region has been more limited than that of North America and Europe, according to a new report.

West Street Real Estate Credit Partners IV will have more than $7bn of lending capacity.

The US firm is aiming to hold a final close this summer for the globally focused vehicle, which would be its largest closed-end fund yet.

Many assets considered top-tier in the sector are older and do not meet ESG expectations. That needs to change, says Craig McDonald, principal at Ardstone Capital UK.

Founder Keith Breslauer says most US investors were not interested in pursuing distress in Europe, perceiving a greater opportunity at home.

Included in the firm’s arsenal of capital is $2.5bn raised for two Asia real estate funds following its acquisition of Angelo Gordon.

The historic five-star hotel on the Grand Canal has been closed since 2022 for renovation, and now has a new owner.

Mergers and acquisitions remain muted, but potential sellers are hungry for partners that can push their products onto retail investors, says Drew Murphy, partner and head of real estate at Berkshire Global Advisors.

The Southern Europe-focused manager took just five months to reach a final close for the fund, well below the European average.