Momentum may be building in the fundraising space, but more managers are making concessions to get a slice of the action.
Default risk in the multifamily sector is growing, catching out some managers and their investors – while creating opportunities for others.
The firm started its sale process in August 2023 and received interest from five domestic investors and a foreign investor.
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.
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