With recovery underway in the US hotel sector, securitisation activity is gradually picking up in select sub-sectors – albeit with more conservative underwriting.
Martin McGann, finance director of the UK logistics REIT, says the company’s latest financing diversifies its funding sources and provides long-dated capital.
The $2.8bn sale to Highgate is potentially the first many large hospitality portfolio sales, but a debt transfer of its size is unlikely to be repeated.
Though new relationships are still on hold throughout much of the world, many kinds of investors are still finding ways to grow their real estate exposure.