Daniel Cunningham
The manager has acquired performing loans from the German bank in a landmark transaction.
Lenders, including debt funds, issued significantly less financing, the business school’s data shows.
The sovereign wealth investor has joined forces with Aldar Properties and Ares Management for a $1bn investment drive.
The refinancing of the US manager's Kereby platform saw local lenders replace financing from an international bank.
Our data reveals fundraising in H1 this year has plummeted from $30bn in H1 2022.
A full-scale financial crisis currently looks unlikely, but there is further potential for volatility, the manager warned.
The head of Europe for the risk management firm sees sponsors aiming to push out debt maturities by up to two years.
The loan, which is secured by properties owned by the manager’s Sponda platform, has been placed into special servicing.
Despite an overall decline in LTVs and an increase in margins, the adviser recorded unchanged lending terms in several parts of the market.
Panellists at CREFC Europe’s London conference said uncertainty around interest rates and property values is making debt transactions difficult to underwrite.