November 2016 Issue

    Month: November
    Year: 2016

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    Editor’s letter: Expansion amid contraction

    We have heard a lot of theories about what may or may not have happened in the UK lending market in the first half of this year, but now, thanks to the work of the De Montfort University report authors, we have the raw data to examine.

    REC Finance Forum: Lenders fasten their seatbelts

    Maturing property cycles, political uncertainty and the rise of debt funds all featured at Real Estate Capital’s third Europe Finance Forum, writes Jane Roberts.

    EXPO Real 2016: Busier, more nervous

    The European real estate market descended on Munich for the annual EXPO Real trade fair in October. Daniel Cunningham headed to the exhibition to test the mood.

    Manchester on course to be UK regional PRS powerhouse

    Most build-to-rent schemes in the city are being forward funded by investors looking to establish PRS platforms, but more debt financing is coming, reports Jane Roberts

    Funding first ushers new chapter for Irish multifamily

    Tristan Capital Partners' €72.5 million deal to forward fund a 197-unit prime residential block in south Dublin marks a first for the young Irish multifamily sector.

    The rise of rents spreads out from Germany

    Development of the private rented or multifamily sector is evolving at a divergent pace across Europe, creating a two-tier market. Germany, which has a renting culture, is more established while UK PRS is only just starting. Lauren Parr reports

    Growth, competition and affordability

    Donald P. King III of Walker & Dunlop explores the state of the multifamily financing market in the US.

    DRC Capital: Lending where the banks won’t

    One of the first non-bank property lenders in Europe, DRC Capital has expanded its repertoire to include senior lending to under-banked sections of the market. Daniel Cunningham met the partners.

    Swedish investment soars but lenders are cautious

    The Nordic country is heading for property investment records, but it’s a nuanced picture for financing overall as lenders remain measured in their approach. Doug Morrison reports.

    Special Feature: The local advantage

    How US regional banks are winning the greatest share of US CRE originations as CMBS falters. Justin Slaughter reports.

    Case Study: Financing Hudson Yards

    Al Barbarino speaks with Jeff Blau, CEO and a partner at Related Companies, to get a behind-the-scenes look at financing the massive development on Manhattan’s far west side.

    CAPITAL WATCH: Recent lending deals October 2016

    The largest lending deal recorded in the last month was P3’s refinancing of its pan-European portfolio. P3 closed a financing across three loans on which Eastdil Secured advised.

    CAPITAL WATCH: Private real estate debt funds October 2016

    The latest figures compiled by our Research & Analytics division show there are 116 real estate debt funds in the market, seeking just over $48.9 billion of capital in total.