Lending

The Madrid-based firm will allocate a third of capital raised to real estate debt.

The property adviser finds lenders exercising caution in expectation of further price falls in the market.

The credit ratings agency says the Toronto-based manager faces a 'severe test' meeting repayments as interest rate costs on the securitised loan soar.

The Essen-based firm, which was founded in 2020, will target a 6-7% net return for its upcoming whole loan lending vehicle.

French bank cites potential problems for Aareal and pbb Deutsche Pfandbriefbank, although the latter strongly disputes the findings.

The London firm hit its £500m hard-cap on predecessor fund CREDF III in June last year.

The UK property firm is close to finalising a £100m joint venture to target real estate debt in the UK.

A continued pause in the UK property investment market is expected following the Bank of England’s latest interest rate rise, which will further impact affordability of loans. 

The firm has seen a retrenchment from banks and is looking to ‘control more of the capital stack’ amid refinancing shortfall.

Receiverships at Docklands office buildings in London suggest even prudent senior lenders will be impacted by problems in the office sector.