CBRE Global Investors Credit Strategies Closes £111.3 Million of Transactions in Strong Q4
14 Jan 2021
Team expands with two senior appointments
CBRE Global Investors Credit Strategies has today reported a strong Q4 performance, with £111.3 million transacted during the period. This follows a period of growth in the team, with two new appointments.
New deals agreed in the quarter include a £52 million investment loan to Lifestory Group developer, Anthology, in order to refinance the 150 apartments that remained for sale at the developer’s 195-home Wembley Parade and 316-home Deptford Foundry developments. Both schemes were completed in early 2020 and the majority of homes from the London developer have now been sold.
CBRE Global Investors Credit Strategies also provided a £33.3 million acquisition facility for a fund advised by Crosstree Real Estate Partners to part finance the off-market purchase of a newly completed 333-bed student accommodation property in Gant’s Hill, East London. The financing will allow Crosstree working with its partner, Outpost Management, to enhance value through the stabilization of the asset and benefit from the expansion of the target student population as UAL and UCL increase their Stratford presence from 2022.
Two further financings completed in the period included a £12.5 million loan for the refurbishment of 12 King’s Street, an office building in Leeds owned by Fiera Real Estate who have partnered with local developer Opus North and a £10.5m loan to Valor Real Estate Partners for the acquisition and refurbishment of three industrial assets in Park Royal, Canning Town and Leyton.
The team has also expanded with two new senior appointments. Meera Sanjee has been appointed as a Director in the Loan Operations team. She joins from Santander UK plc where she was Director of Portfolio Management for Structured Real Estate Finance, responsible for the negotiation and execution of high-value complex structured real estate transactions, as well as ongoing management of the portfolio post-closing.
Hanna Danielsen also joins the Loan Operations team as Senior Associate. She was previously a Senior Asset Manager at Mount Street where she managed a portfolio of circa 25 commercial and residential real estate loans across the UK and Europe.
Emma Huepfl, Managing Director of CBRE Global Investors Credit Strategies said: “Against a backdrop of uncertainty caused by the pandemic, we have found there is significant demand for lenders who can take a flexible approach and have a high level of understanding of commercial real estate. This very busy period of growth for Credit Strategies is a strong endorsement of our underwriting thesis, our close relationships with sponsors and our industry-leading team. We very much look forward to building on this success and working with Meera and Hanna in 2021.”
CBRE Global Investors Credit Strategies EMEA was established last year following the acquisition of Laxfield Capital. The platform has approximately £1 billion of assets under management.
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About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.