Lending

Syndication is slow and capital value forecasts are bleak, but CMBS transactions remain liquid and real estate is expected to retain relative value.

UK real estate finance specialists, speaking on a recent webinar, expect request for covenant waivers and interest payment holidays to increase in June and July.

The business school’s end-year 2019 survey results show defaults were on the rise pre-covid-19, but that the market entered the crisis in a nonetheless stable state.

The long-term refinancing facility for the Connaught and the Berkeley, two of London’s most luxurious hotels, was arranged by US bank Citi.

Sentiment among Germany’s real estate lenders has plummeted, although those closing transactions are reported to have raised loan margins.

Last month’s real estate debt fire sales at the outset of the covid-19 outbreak in the US were just the tip of the iceberg for private real estate.

The lender provided €129.5m to fund the private equity firm’s latest German investment.

Losses and write-offs on retail debt could reach £10bn, while £22bn of development loans face delays, the latest UK lending market report by Cass Business School predicts.

Lenders are facing calls to grant interest payment holidays, force majeure is on people's minds, and operational property is expected to be hardest hit.

Borrowers with financially engineered performances face covenant breaches amid a market correction, warns AXA IM – Real Assets’ head of research and strategy.