A debt funding gap looms across Europe’s property markets. Yet banks and debt funds are well capitalised. Will their funding end up where it is most needed?
Private real estate managers are being cautioned to garner a greater understanding of the vitality of their tenants to avoid triggering income clauses in their borrowing terms.
The Venetian icon, and one of the world’s leading hotels, is in line for a thorough refurbishment through a €330m refinancing from Starwood Capital and King Street Capital.
The £106.2 million loan refinances the ten-floor multi-let office, residential asset in Farringdon, which was built in 1928 as the printing headquarters for the Daily Mirror.
Martin McGann, finance director of the UK logistics REIT, says the company’s latest financing diversifies its funding sources and provides long-dated capital.