Silvia Saccardi
The loan facilitates IBA, Batipart and Covéa’s acquisition of a four-asset, mixed office and logistics portfolio spread across Madrid and Barcelona from AXA.
An existing syndicate of eight banks led by NatWest provided the five-year loan.
The head of debt and value-add strategies for Europe has left the firm after four years.
Wells Fargo and Deutsche Bank were the chosen lenders while 30 debt providers proposed competitive terms.
A property lending industry veteran will serve as a senior adviser to the firm’s recently formed credit business.
Market sources predict further slowdown amid uncertainty, although 'knee-jerk' reactions are not expected.
The manager has sourced financing from public sector funding partners for a residential scheme in Leeds.
The debut financing, secured against a London office development, supports the firm’s strategy to finance transitional assets.
London-based lender and estate agency Douglas & Gordon will provide facilities of up to £10m.
The listed borrower secured a fixed all-in euro cost of 4.12%, citing attractive yen-euro swap rates.