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So-called ‘beds for rent’ sectors in the UK are becoming a preferred allocation choice for investors over offices and retail, according to findings published by Investec.
The private investor argues the residential scheme at the UK capital’s Royal Docks is designed to be within financial reach of ‘average’ Londoners.
After providing its second shared ownership loan to UK housing provider Heylo Housing, BlackRock’s head of European infrastructure debt says the possibility to facilitate housing security in the country through the financing was a key factor supporting its involvement.
Broadoaks project in Solihull
Market sources say non-bank lenders dominate the financing of such schemes as they look for returns in parts of the market underserved by traditional banks.
The firm’s head of European real estate finance explains why the opportunity to finance 10 George Street in London’s Canary Wharf tempted it into its first private rented sector residential loan in Europe.
Broadoaks project in Solihull
Following its financing of a regional UK office-to-residential conversion, the lender’s chief executive says repurposing projects are creating opportunities for debt providers.
opportunity
Among the past week’s most noteworthy items, manager Oaktree emphasised the importance of credit-related deals to its new opportunity fund.
Logistics
During 2021, equity capital will be diverted from offices and shops to beds and sheds, creating demand for debt finance. But lenders should not overlook opportunities elsewhere.
Rating agency Moody’s predicts next year’s European CMBS issuance will have greater exposure to assets including multifamily residential and specialised properties.
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.
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