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Alternative lenders
French fund manager Amundi is aiming to build on its track record in real estate investment by entering the property lending market.
The firm’s Europe debt head Jim Blakemore (pictured) says fundraising for the regional vehicle was ‘a lot easier’ than it was for its first UK debt product thanks to investors being more comfortable with the strategy nowadays.
DRC Capital has closed its third mezzanine and whole loan fund on £600 million (€682 million).
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Lending in the US is an attractive proposition for European organisations, but fierce competition is already hitting loan margins.
Hermes Investment Management has provided a £120 million (€136 million) loan to UK boutique hotel operator Firmdale Holdings.
Niche UK lender Octopus Property has provided a £31.3 million short-term loan to fund the purchase of a London office portfolio ahead of its conversion into apartments.
LaSalle Investment Management has closed its third mezzanine and whole loan fund on £804 million (€903 million).
Brookfield Asset Management has held a $3 billion final close for its fifth real estate debt fund, Brookfield Real Estate Finance V, through which the firm has the ability to lend up to 20 percent in Europe.
The Northern Irish government has launched a £100 million (€111 million) fund to address the shortage of development finance.