Lenders had a busy week with 10 financing transactions signed across Europe over the past few days. Lendinvest sealed a £300 mln (€360 mln) financing deal with Barclays, HSBC and France's BNP Paribas while in the Nordics Swedish logistics company SLP entered into its initial sustainability-linked financing agreements with Nordea and Swedbank.
Other three-digit loans included a green financing provided by Aareal Bank for Oxford Properties’ 32 Rue Blanche in Paris and a €181 mln construction loan by Banco Santander for Ghelamco’s The Bridge in Warsaw. The Spanish lender is financing the development of the asset and has also agreed to occupy the top 19 office floors in the building.
Also, nearly €2 bn of properties were put up for sale this week spanning several European cities. The largest portfolio poised to come to the market is UK build-to-rent housing investor PRS REIT which just announced that it is embarking on a strategic review of the business, including a potential sale.
PRS REIT – which owns the largest single-family build-to-rent portfolio in the UK - has invested over £1 bn (€1.2 bn) in private rental homes across the UK, and currently has a market valuation of nearly £500 mln (€594 mln) and a portfolio of over 5,400 homes.
In Madrid, Redevco and Ares have launched the sale of Parque Corridor while in Spain CBRE IM and Pygmalion have hired CBRE to sell the Silken Hoteles hotel chain's portfolio for €250 mln. AEW is selling London's 100 New Oxford St through Cushman & Wakefield and TT&G for £140 mln.
