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Coronavirus
The pandemic has changed how and where we work. But what does that mean for offices and how they will be financed?
Covid has added complexity because of the changes in lender appetite but the sector is bouncing back after a three-month hold.
As building owners ready their properties for the real estate recovery, debt advisers are helping to source finance for their business plans.
Kate Lawlor, the firm’s chief executive, says the pandemic has prompted a growing number of debt providers to be willing to fund the sector.
Randeesh Sandhu, co-founder of alternative lender Précis Capital Partners, says residential-based operational properties are emerging from the covid crisis as strong sectors.
The fund closed above target and with more than four times as much capital as its predecessor.
So-called ‘beds for rent’ sectors in the UK are becoming a preferred allocation choice for investors over offices and retail, according to findings published by Investec.
The latest real estate institutional investor survey by placement agent Probitas Partners demonstrates tumbling appetite for office investments and competition fears.
Large pools of capital have been raised for distressed strategies, but thanks to government support schemes, finding a home for it is proving a challenge.
Panellists at CREFC Europe’s conference on offices say lenders are factoring in capex programmes and shorter leases when underwriting properties.
