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On the 10th anniversary of the collapse of Lehman Brothers, the real estate debt industry is in better shape, but lenders can never become complacent again.
The impact of the global financial crisis for the real estate sector was first shocking, then painful and, finally, educational.
When Lehman Brothers failed, banks’ real estate lending units pulled down the shutters. The implications are still being dealt with a decade later.
The banker will replace Mark Titcomb following his retirement from the banking industry.
The bank has provided £230m of debt to back US REIT Global Net Lease’s entire UK office portfolio.
Roman Kogan will relocate to New York to manage the US loan origination desk while Dino Paparelli will move to London to become head of European property finance.
Aareal Bank has financed a pan-European portfolio in the latest large financing deal in the sector.
The German bank recorded €4.2bn of new real estate lending in the first half of 2018.
The German bank has posted an overall 24% year-on-year drop in new business as it maintains a ‘selective stance’ in financing markets.
The bank has written a £61m debt facility for Chancerygate.