The €625m financing of Dublin’s Dundrum mall indicates lenders’ appetite for Irelands trophy assets.
Blackstone is to fund its latest push into the Nordic real estate markets with a €2.6 billion financing of its recently acquired Sponda platform in Finland, in one of the cycle's largest real estate lending deals.
The past decade has been turbulent for European real estate finance, but the market that has emerged is more robust.
Joint owners Hammerson and Allianz Real Estate have closed a €625 million refinancing of Ireland’s Dundrum Town Centre shopping mall in a deal which locks in a sub-2 percent margin for seven years.
Deutsche Bank has provided a £66 million (€72 million) loan to real estate fund manager Aerium to finance the ongoing redevelopment of a central London office and residential scheme.
A reliance on external markets puts Germany’s real estate lenders in a vulnerable position, but also compels them to consider cautious moves into less familiar territories.
Patron Capital and Dutch brewer Heineken have completed the purchase of the FTSE 100-listed Punch Taverns – the UK pub chain which is financed by circa £1.32 billion (€1.42 billion) of debt across two securitisations.
German pension fund Bayerische Versorgungskammer (BVK) has increased its exposure to the core London development market through a new loan originated by Deutsche Asset Management.
The last two crises were predictable and another debt-fuelled crash can be avoided, senior industry figures have concluded. Daniel Cunningham reports
While real estate debt intermediaries have been a feature of the US market for decades, the need for them simply did not exist this side of the Atlantic, until this cycle.