Deutsche Asset Management has provided a €45 million mezzanine loan to Ares Management to finance two designer outlet retail centres in France.
Unlike most pension fund lenders, CPP Investment Board aims to take more risk for more return. Daniel Cunningham meets the European private real estate debt team.
London-based Avamore Capital, the short-term property finance specialist, has hired Amit Majithia as a principal.
Pearlmark raises $50m for mezzanine debt fund
Natixis Real Estate Capital has provided $66m to Manhattan-based Bauhouse group for the purchase of three NYLO full service boutique hotel properties in Irving, Plano,(both in Texas) and Warwick, Rhode Island.
With a liquid and fiercely competitive market for real estate, panellists at Real Estate Capital’s inaugural Germany 2015 Forum, held at Kempinski Gravenbruch, Frankfurt, last month, discussed whether lenders could keep chasing margins down and where to find value.
Germany’s real estate market is flush with cheap debt. “There is an oversupply of bank finance and that is a challenge for an international bank,” said Jürgen Helm, HSBC’s head of German real estate.
Deutsche Bank director Jörg Oestreich concurred: “Everybody is chasing exactly the same assets and that is why our lending margins have become so low.”
CBRE unveils promising real estate debt prospects
The Shariah-compliant bank will front the equity for a US-based investor and provide mezzanine debt for European real estate.
At our inaugural Forum, industry leaders discussed Europe's changing debt market
Top 30 European lenders