Borrowers

The concentration of bond financing issued by the country’s REITs makes it a target for potential acquisitions in the coming months.

The loan is secured by a portfolio of 21 retirement facilities in the UK.

The rating agency said borrowers with looming bond maturities will need to raise capital from asset sales.

Overall loan origination in the first half of 2023 was down 22% to £18.8bn, according to the business school’s latest survey.

More than 60% of respondents to an Urban Land Institute survey said concerns about the risks involved in decarbonising assets have led to acquisitions not going ahead.

The manager received a £300m facility to acquire 34 sites from a mix of banks and alternatives.

The facility will be used to develop senior living provider Birchgrove’s second project in London.

The facility, provided by JPMorgan and Cheyne Capital, will in part refinance the UK developer’s standing assets at Wembley Park.

The CEE-focused manager is busy reducing its leverage but has taken on bridge financing to demonstrate liquidity.