Daniel Cunningham
.jpg?id=19327356053 "Hermes finances Thor and Chenavari’s Soho scheme")
The £29 million loan is used to support both firm's joint acquisition of a central London property.
The firms are aiming to complete a first close next month and obtain 10 percent net returns over a six-year period. The fund will invest in both performing and non-performing loans secured on commercial and residential real estate.
The portfolio has a gross book value of €177m and is secured against Italian property and corporate loans.
The real estate debt fund has provided the funds for the development of apartments in Canary Wharf by LBS Properties.
The firm acquired the portfolio management subsidiary Erste Abwicklungsanstalt, which was established in 2009 to manage the assets of the now defunct bank WestLB.
Under the new strategy, the firm is aiming to complete LTVs up to 85% as it modifies its SSUP strategy which has seen lower returns in the UK senior property debt market. The firm is also planning to issue 40m new shares over the next 12 months.
.jpg?id=12885354880 "Man Group completes Aalto acquisition")
The investment firm will pay $232m for Aalto, a real estate debt investment firm established in 2010. Mikko Syrjänen and Petteri Barman will lead the newly established Man Global Private Markets unit.
.jpg?id=12885365932 "FCA proposes tighter crowdfunding regulation")
Following a consultation that began in July, the FCA is looking to strengthen protections for investors.
.jpg "New York pension scheme commits $200m to debt fund")
New York State Common Retirement Fund has invested in PGIM’s sixth real estate debt fund focusing on the European market.
LendInvest is looking to expand its strategy to northern England and Scotland and has reduced its minimum bridging loan sizes to £75,000.