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The deal signals the real estate fund management giant’s entry into Europe’s property credit market.
In addition to Germany and Spain, the firm will add the UK to the geographic mandate of its latest €650 million investment vehicle.
Real estate debt looks well positioned compared with corporate debt, maintains Justin Guichard of Oaktree Capital in this interview shot at sister publication PDI's New York Forum.
A blue stock market graph on a high resolution LCD screen.
Debt market sources say some banks are agreeing to drop interest rate floors as they compete for core, senior financing deals in liquid markets.
The latest Cass report on UK real estate lending found new loan origination to have increased by 4% to £23.4bn in H1 2019 despite fewer property transactions and increased political risks.
Turbulence in financial markets, less activity among established players and consolidation of lending teams are factors in the fall, according to Paragon Search Partners.
The investment manager’s latest fundraising drive follows the closing of €200m of loans to Blackstone from its third mezzanine debt fund.
John Graham CPPIB
The Canadian pension has scaled up its credit operations in North America and Europe and is turning to China and India as part of a global expansion.
The real estate lender is charging a 1.5% management fee, according to Arkansas pension fund documents.
The sector must shift toward a more sustainable future, say the fund managers at Brunswick Real Estate, Aksel Lundquist and Annina Salakka, and together borrowers and lenders can drive progress.
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