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The investment manager’s debt boss explains why it raised special situations capital, pre-covid, and how it intends to invest it.

Retail icons are being toppled, spelling major trouble for US shopping malls as a cascade of defaults looms.

Distressed hotel deals are now visible, but access to many would-be discounted transactions in the sector looks restricted.

Although Spain remains on lenders’ radar, many are taking stock until post-coronavirus conditions become clearer.

The investment manager has raised an additional €300m to fund loans with LTV ratios of up to 80%.

The UK-based Swiss Life subsidiary sourced a £56m loan from DekaBank for its recent London office acquisition, amid debate about the future of the sector.

Three-quarters of respondents to Savills’ global sentiment survey stated debt has become less available in EMEA and North America.

Ratings agency S&P expects the delinquency rate to climb higher for June, although European CMBS are so far weathering the storm.

The principal investment and advisory firm is aiming to invest up to €500m through its special situations strategy.

The London-based manager has made appointments in Paris and London as it expands the focus of its lending beyond the UK.