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BNPP AM raises €700m for second real estate debt fund

BNP Paribas Asset Management (BNPP AM) has raised more than €700m for its second senior commercial real estate debt fund.

The manager said the amount raised for BNP Paribas European Real Estate Debt Fund II, exceeded the fund’s €500m target.

Fund II’s predecessor closed in April 2021, with €335m of capital now fully deployed across 12 assets in continental Europe.

Invesco launches European real estate debt fund

Invesco Real Estate has launched its first European real estate debt fund with a plan to raise an initial €1bn.

The manager said the open-ended Invesco Commercial Mortgage Income – Europe FCP RAIF (CMI Europe) fund, which is primarily backed by insurance capital, has already completed its first deal.

CMI Europe has provided a senior loan facility to finance a pipeline of six French and three Spanish logistics facilities.

Nuveen gets initial €150m for pan-European real estate debt strategy

Nuveen Real Estate has raised an initial €150m from “several German institutional investors” for its new European debt strategy which seeks to raise €500m.

The investment manager disclosed that the first close of its fourth debt strategy in the European commercial real estate debt series was backed by a number of unmanned German institutions alongside Nuveen’s parent company, TIAA.

DWS launches European junior real estate debt fund

DWS has launched its sixth real estate debt fund, raising an initial EUR150 million for the European fund.

The asset manager said the European Junior Real Estate Debt Fund is expected to reach a total volume of EUR500 million.

The European property debt fund will focus on building a subordinated loan portfolio secured by high-quality pan-European core/core-plus real estate, targeting a high single-digit rate of return at a maximum loan-to-value of the portfolio of 75per cent, DWS said.

AllianzGI holds first close on debt fund on EUR515 million of equity

Allianz Global Investors (AllianzGI) has reached the first milestone in the equity riase for Allianz Global Real Estate Debt Opportunities Fund.

The vehicle, which was launched in February 2022 as the first real estate private debt fund of AllianzGI, has just held a first close on EUR515 million. The strategy is to acquire higher yielding real estate debt opportunities with strong downside protection.

DRC Savills IM holds final close of its fourth Pan-European high yield debt fund at EUR600 million

DRC Savills Investment Management (“DRC SIM”) has held the final close of its fourth fund in DRC SIM’s high yield debt strategy; European Real Estate Debt IV (“ERED IV”). The Fund successfully reached its target fundraise of c.EUR600 million (cUSD680 million/GBP500 million). DRC SIM is the real estate debt financing arm of Savills Investment Management, the EUR25 billion global investment management platform of Savills plc (LSE: SVS). 

Beaufort Capital launches EUR1.2 billion UK debt fund for developers

London-based Beaufort Capital, which was formed in 2013 as a specialist real estate lender, has been busy lending funds to experienced property developers in England, Scotland and Wales, it has said

The company has closed on or agree on half a dozen projects since December on behalf of a new senior and stretched senior debt product.

It has hopes of deploying GBP1 billion (EUR1.19 billion) over the next three-to-five-years via a series of development projects ranging in gross development value of GBP15 million up GBP75 million.

PGIM Real Estate raises EUR1.8 billion for final close of PGIM Real Estate Capital VII

The seventh fund in PGIM Real Estate’s European flagship high yield debt fund series, PGIM Real Estate Capital VII (PRECap VII), has closed on EUR1.82 billion (GBP1.53 billion/USD2.07 billion), the largest European real estate debt fund closed in 20211. PGIM Real Estate is the real estate investment and financing business of PGIM, the USUSD1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Ares Management Corporation Expands into European Real Estate Debt

Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that Philip Moore, Alessandro Luca and Anisa Dudhia have joined Ares to expand its real estate debt presence in Europe. These additions reflect a natural evolution of the Ares Real Estate Group’s 25-year track record in European real estate equity investing and its 10-year track record in U.S. real estate debt. The team expects to continue adding additional professionals in the near-term.