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The manager has worked with third-party advisers to devise a sustainable lending framework.
The loan, which is secured by properties owned by the manager’s Sponda platform, has been placed into special servicing.
Panelists at a key London event described challenging lending market conditions.
After more than a decade of cheap debt, rising interest rates are forcing a change across the region’s real estate financing market.
Panelists at CREFC Europe’s London conference said uncertainty around interest rates and property values is making debt transactions difficult to underwrite.
The US-based mortgage REIT has formed a joint venture with London-based Starz Real Estate to provide property loans.
The manager argued that property debt can provide investors with clear risk-adjusted value, despite enhanced lending market risk, in a new paper.
The latest report by Bayes Business School reveals loan origination reached £23.3bn in the first six months of 2021 as lenders tackled a deals backlog.
The US manager has backed former Tyndaris real estate boss Clark Coffee’s new venture to capitalize on dislocation in the European lending market.
The Colony Capital boss says the US property loan market is on the brink. Lenders in Europe should take note.
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