PERE Credit is expanding its mandate globally for the private real estate lending industry, starting June 1; Ares Management completed a first close for its first closed-end real estate debt vehicle, more than halfway toward its $1.5 billion target; MonticelloAM is doubling down on healthcare real estate with a $435 million financing to a skilled nursing portfolio; and more in today’s Term Sheet, exclusively for our valued subscribers.
On June 1, PERE Credit will be expanding our remit to include Europe and the APAC region via a combination with our European affiliate, Real Estate Capital Europe.
As Real Estate Capital Europe’s coverage becomes a key element of our soon-to-be globalised affiliate PERE Credit, we bring you our final REC Europe Term Sheet; Ares Management is reported to have raised more than half its target as it gathers capital for US and European lending; Stoneshield raises €1.5bn in six months for a fund targeting Southern Europe; and more in today’s briefing, exclusively for our valued subscribers.
MonticelloAM is providing a $435 million financing package for a Maryland skilled nursing portfolio; Arbor Realty Trust is backing RIG Capital’s multifamily acquisition in Chicago with a $167 million mortgage; Madison Realty Capital is adding a $91.8 million construction loan to a South Miami mixed-use property‘s capital stack; and more in our round-up of stateside loan deals from the past week.
Patron Capital Partners kicks off its lending strategy with the provision of £107 million (€124 million) of loans in the UK; pbb Deutsche Pfandbriefbank and Helaba provide a €185 million refinancing facility to Crestyl Group for its Prague office park; Barclays issues a £180 million green refinancing facility to Edmond de Rothschild REIM backed by five build-to-rent assets; the latest additions to the Real Estate Capital Europe lending database; and more in our round-up of European loan deals from the past week.
The most important UK and Continental European commercial real estate deals collected in our database, updated every Friday.
Owner of Belgium's Finance Tower sues CBRE Loan Services over a valuation dispute with lenders to the office building; Patron Capital Partners makes its first direct loans; Stoneweg appoints head of credit and the firm outlines plans to deploy €500 million of real estate debt; and more in today’s briefing, exclusively for our valued subscribers.
Higher borrowing costs could slow commercial real estate lending and investing.
Private real estate credit managers are keeping sights fixed on the US 10-year Treasury with mid-term outlooks potentially needing to be retooled; Industrial Realty Group and Sachem Capital are merging to form an industrial sector origination and ownership platform; Värde Partners closes its largest commercial real estate collateralized loan obligation to date in $1 billion transaction; and more in today’s Term Sheet, exclusively for our valued subscribers.
Brookfield is securing a $1.9 billion CMBS SASB loan for an office tower in its Hudson Yards development portfolio; UBS is funding a $161 million loan to refinance an office building in Manhattan’s Chelsea submarket; Hines lines up a $141.82 million financing for a multifamily property in Chicago’s River North submarket; and more in our round-up of stateside loan deals from the past week.