Strategies

The specialist real estate lender has secured a segregated commercial property lending mandate through which it plans to deploy €350 million.

Through its latest vehicle, focused primarily on investing in whole loans secured against UK commercial property, the firm has already committed £455m across 10 transactions.

Since mid-2018, the German insurer has deployed €1.5bn of debt through its Luxembourg platform.

Rainer Komenda, head of real estate funds at Bavaria’s Bayerische Versorgungskammer, tells Jonathan Brasse about how Germany’s biggest state pension provider is thinking about its real estate business as it views a downturn.

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.

The investment manager’s latest fundraising drive follows the closing of €200m of loans to Blackstone from its third mezzanine debt fund.

The real estate lender is charging a 1.5% management fee, according to Arkansas pension fund documents.

The vehicle will primarily lend against PRS and student accommodation assets in Spain and the UK.

Given a family office’s access to long-dated capital, real estate investments seem like a good fit. But management fees continue to be an area of contention.

The joint venture partners expect to hold a second close for their third senior property credit vehicle by December, targeting €400m.