Banking group Standard Chartered has supported the successful closing of the Sirius Logistics 2026-1 UK DAC commercial mortgage-backed securities (CMBS) transaction, the first European CMBS to close in 2026.

The CMBS issuance was backed by an initial senior loan provided in November 2025 to Mileway, a Blackstone portfolio company. The transaction closed at £500m (€576m), following an upsize driven by strong investor demand.

Standard Chartered acted as joint mandated lead arranger and original lender, with the financing secured against a portfolio of 126 last-mile logistics and industrial assets.

On the CMBS issuance, Standard Chartered also acted as co-arranger and joint lead manager, as well as loan seller, risk retention provider and liquidity facility provider.

“We are delighted to have supported the successful execution of this transaction,” said Shane Moore, Head of Commercial Real Estate, EMEA, at Standard Chartered. “This financing reflects strong momentum in the European commercial real estate markets and demonstrates how well-structured logistics assets continue to attract capital. It also highlights our ability to combine commercial real estate and structured finance expertise to deliver effective financing solutions.”

Standard Chartered also provided back leverage for Affinius Capital’s first loan origination this week, under its newly launched European debt platform.

Affinius has also provided an £80m (€92.1m) senior loan to a joint venture backed by affiliates of HIG Capital, secured against two best-in-class, purpose-built student housing developments in Leeds and Lancaster. The platform, which focuses on development lending and transitional credit across Europe, follows the strong growth of Affinius’ US lending business, which has completed over $50bn of debt originations since the programme’s inception in 2013. 

Recently completed deals       
Asset Asset type Location Buyer Vendor Size Price (mln) Key facts
Estel building office Barcelona InmoCaixa Bain Capital and FREO Group 52,000m2 €380 Since acquiring the building in 2021, Bain Capital and FREO have carried out a comprehensive renovation plan for the property.
Berceo shopping centre retail Logroño, Spain Castellana Barings 34,416m2 €108 The deal reflects a 7% yield.
resi development portfolio living Oslo and Bergen, Norway JM Nåbo 11 projects €105 (NOK1200) The four ongoing residential projects together correspond to a total of 299 residential units.
Andaz Vienna Am Belvedere hotel hotel Vienna Deka Immobilien Hyatt Hotels Corporation, Signa Development Selection AG 303 rooms €92 The Viennese property will be added to the portfolio of the WestInvest InterSelect open-ended real estate fund.
Newmarket Square BTR development living Dublin MEAG Valpre Capital 134 apartments €80 The 134-home scheme comprises a mix of studio, one-, two- and three-bedroom apartments, alongside a ground-floor retail unit.
Excelsior hotel hotel Munich Blackrock Geisel hotelier family 114 rooms €60 The hotel has 114 high-quality rooms and suites, five conference rooms and several restaurants.
Palais Vest retail Recklinghausen, Germany Hilee and Interra URW 45,600m2 €50 Opened in 2014, the asset comprises around 100 shops.
7-8 Conduit Street office London Bayerische Hausbau Real Estate Group Wendover Partners NA £41 (€47) The purchase marks the German investor’s first transaction outside its domestic market.
Elisé office Duesseldorf Montano and Beyond La Française Real Estate Managers 9,338m2 €39 The property is let to the city’s administration.
the Bligh’s Meadow retail scheme retail Sevenoaks, UK Compagnie du Parc, RevCap NA 77,000sqft £26.7 (€31) This acquisition represents the first step in a new retail strategy for CdP, which sits alongside its traditional focus on Greater London industrial assets.
resi portfolio living Helsinki Storebrand Nordic Real Estate II Ilmarinen 54,100m2 NA The portfolio consists of 13 residential assets totaling 999 apartments in the Helsinki Metropolitan Area.
minority stake in logistics portfolio logistics The Netherlands Neuberger Berman HighBrook Investors 23 assets NA The portfolio forms part of CityLink’s broader European logistics platform which totals 140 warehouses across the Netherlands, Germany and Denmark.
resi project living Rødovre, Greater Copenhagen CapMan Real Estate and PensionDanmark Rødovre Municipality 42,500m2 NA The project encompassing 500 apartments and retail units will be developed over a six-year period.
Edison Höfe mixed Berlin Unnamed institutional investor Deka Immobilien 27,700m2 NA The complex consists of the Torhaus building completed in 2012, and the former AEG factory building.
logistics project logistics Copenhagen Verdion NA 31,096m2 NA Verdion is investing €69m in the project on behalf of its second European Logistics Fund (VELF 2).
Mountpark Chartres 2 logistics facility logistics Illiers-Combray, France Clarion Partners Europe Affinius 35,583m2 NA The asset comprises a warehouse and office accommodation.
Millennium Tower 1 office Budapest NA CA Immo 18,800m2 NA The multi-tenant building completed in 2006 provides €3.1m in annual rents.
office building office Paris Barings French institutional investor 8,275m2 NA The purchase of the fully-let asset is Barings’ largest office acquisition in five years.
Søborg Hovedgade 96 living Copenhagen Slättö NA 6,500m2 NA The deal marks Slättö’s first residential investment in Copenhagen.
30-33 Minories office London HUB and HIG Patrizia 230,000sqft NA The site will be redeveloped into a living-led scheme.

 

Assets on the market       
Asset Asset type Location Vendor Size Price (mln) Broker Key facts
resi portfolio living Germany DWS 5,500 assets €400 NA The assets are located across five cities in Northern Germany.
Dublin One Hotel hotel Dublin MM Capital and RoundShield Partners 163rooms €46 JLL The asset failed to secure a buyer at €50m when it launched in Summer 2024.
Cube Hotel hotel Birmingham Quantuma Advisory 52bedrooms £7.2 (€8) Knight Frank The 4-star unbranded hotel comprises 52 bedrooms alongside a franchise restaurant.

 

Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (mln) Key facts
CMBS investors Mileway portfolio of 126 last mile logistics & industrial assets £500 (€576) Supported by Standard Chartered, Sirius Logistics 2026-1 UK DAC represents the first European CMBS to close in 2026.
Aareal Bank and Mizhuo Greystar Canvas Arthur House £140 (€162) The loan refinances the 770-bed purpose-built student accommodation building in Wembley, London.
Affinius Capital HIG Capital two PBS assets in Leeds and Lancaster £80 (€93) Back leverage financing was provided by Standard Chartered.
Aareal Bank Trinova and Stars REI 103 Mount Street. £80 (€93) The loan replaces former Nuveen and UBS facilities.
Cerberus Capital Management Zenzic Capital and Torsion Group three UK PBSA assets £63 (€73) The new five-year investment facility redeems three development loans which were held individually against each asset.
Alpha Bank, Situs Asset Management Limited Castello Sgr, Five Lakes Hotel Bellevue Cortina d’Ampezzo €50 The facility will fund the development of the five-star hotel.
Future Growth Capital Greycoat 140 Leadenhall in London £32 (€37) The two-year whole-loan will be used to finish renovating the building and help Greycoat find new tenants.

 

New mandates/JVs and funds on the market   
Firm Fund/mandate/JV Strategy Details
Newcore Capital Newcore Social Infrastructure Income Fund Seeking high-quality, income-producing social infrastructure real estate in the UK The firm has achieved a second close for the £375m core-plus income fund.

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