Lucy Scott
The Korean owners of Belgium’s largest office building allege the building’s lenders placed undue pressure on valuers to trigger a cash trap event.
Margins remained stable during Q1, but Chatham Financial has observed growing nerves around agreeing loan terms.
The Copenhagen-based firm is aiming for a final fund size of around €800m.
The manager says many borrowers will need a range of rescue capital solutions next year.
Property finance was on the agenda during week one of the 29th session of the Conference of the Parties to the United Nations Framework Convention.
The US manager said it is on the lookout for further growth opportunities.
The manager says alternative debt providers are increasingly competitive against domestic lenders.
The five-year debt facility has been provided by three of the four lenders that provided a €900m loan against the Paris office complex in 2017.
As senior lending issuance remains muted, the German bank is seeking higher-yielding opportunities via a debt vehicle.
Heightened capital costs are increasing stress for real estate borrowers in the UK and Europe.