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Steve Plavin, recently appointed to lead Blackstone Real Estate Debt Strategies in Europe, says a wide array of funding opportunities is likely to emerge as European markets reopen.
Latest survey by the Commercial Real Estate Finance Council Europe points to improvement in industry sentiment during Q2.
Gadi Jay, who is responsible for sourcing debt for Blackstone's European investments, says the pandemic has not prevented the US firm from financing its property strategy.
Property finance veteran Natalie Howard is building a new credit business. She tells us why organisations like Schroders are the ‘natural fillers’ of real estate’s funding gap.
Following the bank’s €400m refinancing of a pan-European logistics portfolio for GLP, its managing director for special property finance says funding for multi-jurisdictional transactions is scarce.
Alternative debt providers are increasingly willing to fill the void left by banks in the European sector, but financing mandates remain scarce.
Market sources say non-bank lenders dominate the financing of such schemes as they look for returns in parts of the market underserved by traditional banks.
Hugo Raworth, valuation specialist with loan services provider SitusAMC, says analysis of income, sustainability costs, and data will play a greater role in determining real estate value.
Following its acquisition of debt manager DRC Capital, Savills IM’s global chief executive says there is huge potential in credit strategies as banks retrench from real estate.
The UK challenger bank’s debut loan in the sector was put on hold at the start of the pandemic but the resulting deal was larger than initially planned.