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After a disconcerting June and a ‘whiff of volatility,’ the US CMBS delinquency rate has resumed its descent, according to the latest report from data and research firm Trepp.

European carpark operator Q-Park has signed a €925m credit facility with a syndicate of five banks. The new loan refinances an existing €1.15bn facility which would have matured in October 2016. The company has been reducing its total leverage and its average effective interest, which was 4.9%. Its debt is secured on property valued at around €1.4bn.

Strategic Hotels & Resorts has acquired the remaining 49 percent ownership interest in the JW Marriott Essex House hotel from KSL Capital Partners for $84.6m in stock, assuming with the deal a $225m loan from MetLife that was used to refinance the property in December.

The centuries-old fine art auction house Sotheby’s has refinanced the 10-story property it headquarters and owns on Manhattan’s Upper East Side with a $325m loan from HSBC and the Industrial and Commercial Bank of China.

The European Commission (EC) will discuss its plan to relaunch the European securitisation market at a new event in London. The Future of European Securitisation conference on November 11, organised by City & Financial Global, is expecting around 100 delegates from the financial services sector.

Goldman Sachs, CarVal and Bank of Ireland have bought a portfolio of Irish commercial loans from Lloyds Banking Group for £827m. The loans, made to small and medium sized businesses in Ireland, are mostly secured against commercial property.

Starwood Property Trust has provided Connecticut-based Wheelock Street Capital with $88.6m for the acquisition of Renaissance Las Vegas Hotel in Las Vegas, Nevada, Real Estate Capital has learned.

Lender appetite for risk has dropped sharply, as has optimism with respect to borrower demand, according to a new report from the Real Estate Lenders Association (RELA) and economist Sam Chandan.

Allianz Real Estate has taken a €365m slice of Aareal Bank’s €630m loan to NorthStar Realty Finance. It is the German insurance company’s first cross-border financing of a pan-European portfolio.

Blackstone is buying a portfolio of bad property loans worth €790m from Spain’s CaixaBank. The sale, dubbed project Tourmalet, involves loans made on 271 new residential developments, 160 plots of land and incomplete developments and a small number of commercial real estate units.