Alicia Villegas
Insurance companies like the Italian giant are capitalising on institutional demand for real estate lending strategies.
The joint venture partners expect to hold a second close for their third senior property credit vehicle by December, targeting €400m.
The asset management firm has raised €250m for its maiden property debt fund and has deployed €180m across six loans in France, the Netherlands, Spain and Italy.
Madeleine McDougall (pictured), the UK bank’s real estate boss since 2017, will share responsibilities with Andy Hulme in a move designed to improve work-life balance.
The Italian insurer is planning to open the platform to third-party investors and raise an additional €500m over the next two years.
The French asset manager will provide development loans and enter new country markets through its third senior real estate lending vehicle, for which it is aiming to raise €400m.
Property values are falling, forcing lenders to question their exposure to the sector.
Property lenders are proving keen to finance investors’ growing interest in various types of accommodation.
Fund will follow the same strategy as the joint venture’s second vehicle, with the aim of building a diversified pan-European portfolio of loans across real estate asset classes.
The real estate investor has backed the recently launched Hilltop, which aims to lend £125m to SME developers over the next 12 months.