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A €296m construction financing in the German capital, led by Deutsche Hypo, was among the week’s more eye-catching items.
The manager, which was founded by former Deutsche Bank credit and real estate specialists in 2015, has already deployed €330m across seven investments primarily secured against European offices.
In a busy start to March, a UK leisure platform attracted £1.8bn of finance, banks re-upped on a London office tower loan and sponsors demanded speculative logistics debt.
Uncertainty around the office sector’s future did not deter the banks from financing 110 Bishopsgate again.
The investment manager says long leases and quality tenants are among its reasons to finance the transaction.
Market disruption caused by the pandemic will create value-add and opportunistic investment opportunities in the two sectors, according to the Swiss investment bank.
The investment manager said long leases on the office building and supermarket which secure the loan were among its reasons for agreeing to the transaction.
Speaking ahead of the publication of its H1 2020 report, Nicole Lux of The Business School at City, University of London says lenders have focused on the residential sector.
Vacancy and rental levels could be on a longer-than-anticipated road to recovery, especially in western markets.
A new facility agreed by the two parties includes up to a 10bps margin discount should the borrower hit sustainability targets.