Alicia Villegas
The vehicle has been upsized to £750m on the back of ‘strong’ demand from borrowers, coupled with investors’ appetite, says director Alexandra Lanni.
Apollo’s purchase of a €2.7bn loan portfolio from Bank of Cyprus is expected to reactivate the island’s property market.
The servicer has appointed the former Mount Street managing partner as it seeks to capitalise on opportunities arising from the emergence of non-bank lending and construction loans.
The rising popularity of real estate debt generates M&A opportunities, but the lack of independent debt fund businesses limits the scope for consolidation.
Cheyne’s latest vehicle is 80% invested with a greater focus on senior debt funds.
Former AgFe executive joins the London-based firm as partner.
The firm and partner Urban Exposure aim to address a ‘shortage of debt capital’ in mainstream residential developments with their joint venture vehicle, which has an initial size of £165m.
The firm enters property lending as it aims to exploit the ‘attractive’ alternative the asset class offers to direct equity investment.
The London-based firm is launching a lending division for the industrial sector, targeting an ‘undersupply’ of finance outside the prime markets.
DekaBank and pbb provide a €117.3m loan for three prime industrial facilities in Germany as local banks continue to benefit from burgeoning institutional investment.