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Mezzanine
The Los Angeles-based bridge lender will now also target first mortgages and mezzanine debt.
The US federal programme, which expired in July, had helped to funnel international capital into commercial property financing deals in the country.
The Frankfurt-based manager says more caution among banks during the pandemic has created opportunities for subordinated lenders.
The Monaco and London-based manager is understood to have begun fundraising for its third property lending vehicle.
Hanno Kowalski, managing partner of the Berlin-based debt provider, says demand for junior loans against core assets means mezzanine lenders, and their investors, are taking less risk.
The French manager will add high-yield lending to its repertoire as it aims to double its credit assets under management.
Michael Zerda, head of Blackstone Real Estate Debt Strategies in Europe, will take on Amy Klein Aznar’s role at LaSalle as she becomes executive chair of the debt and special situations business.
The Berlin-based advisory and investment firm records 151 investors currently active in Germany’s subordinated debt market.
The investment manager’s latest fundraising drive follows the closing of €200m of loans to Blackstone from its third mezzanine debt fund.
Senior real estate lending returns are dwindling due to tightening margins and falling interest rates. Against that backdrop, CBRE examined conditions in the mezzanine and whole loan space across Europe, to determine where, and to what extent, lenders willing to embrace risk can boost returns. In addition to data on senior lending returns for more […]