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Germany’s HSH Nordbank has been sold to a private equity consortium. Doug Morrison asks what that means for its real estate lending business.
Lloyds has led the £390m financing of the mixed-use project in Shoreditch.
The bank recorded €1.9bn in fresh CRE business last year, with solid activity in the UK, Spain and the Netherlands also contributing to the 13% year-on-year increase.
The senior 10-year notes carry a 1.5% coupon.
Full-year 2017 results show mixed fortunes for Germany’s real estate lenders and most expect a challenging year ahead.
The 10-year debt facility, with a fixed interest rate, will be used to finance the seed portfolio of a vehicle managed by Corestate on behalf of the German pension fund.
The German bank wrote €2.2bn in new loans across Poland, Benelux, France and Czech Republic last year.
Goldman Sachs’ merchant bank has closed its largest global real estate credit fund, raising $6.7bn. The bank’s Jim Garman and Richard Spencer explain the advantages that come with size.
Property finance professionals gathered in Cannes described an intensely competitive lending space.
A survey of UK debt trends shows alternative lenders are encroaching further into senior banks’ territory.

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