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Private credit sees opportunity in Australia real estate as banks hesitate

Private credit sees opportunity in Australia real estate as banks hesitate

By Lewis Jackson and Rae Wee SYDNEY (Reuters) - Private credit lenders are increasing their footprint in parts of the Australian commercial property m.

Private credit sees opportunity in Australia real estate as banks hesitate

Private credit lenders are increasing their footprint in parts of the Australian commercial property market, providing alternatives for borrowers as banks scale back higher-risk lending amid a slowdown brought on by elevated interest rates. The funds available for deals are growing as investors including pension funds, sovereign wealth and insurance firms look for meaty returns hard to find in today's equity markets, especially in the beaten-down real estate sector. Australian real estate specialist Qualitas, whose backers include the Abu Dhabi Investment Authority, has nearly doubled funds under management to A$8 billion ($5.07 billion) since mid-2022, with roughly half the increase since this June.

PGIM Loans $115M on Luxury Apartments in Playa Vista

Jones Lang LaSalle Incorporated : $115M financing secured for West Los Angeles apartment complex -October 26, 2023 at 12:39 pm EDT

LOS ANGELES, Oct. 26, 2023 - JLL announced today that it has arranged the $115 million financing for The Ventana Luxury Apartments, a 405-unit, low-rise multi-housing community located.