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June 21, 2010
Investment Banks Look to Capitalise on UK Lending Market
Many of the world’s leading investment banks are examining re-entering the UK property lending market, to take advantage of the best and growing number of deals. Whilst Deutsche Bank has already begun to finance new deals, other big names such as Morgan Stanley and Societe Generale are looking at beginning lending again.
Societe Generale is understood to be leading a consortium of banks to fund the purchase of the Thames Portfolio and Alban Gate for around £720 million in the sell off of Simon Halabi’s White Tower London office portfolio.
At Savills presentation last week ‘Financing Property’, the agent attempted to shed light on why this has taken place. They highlighted the spread between five year swap rates and property yields still at a decade long high. However, they also stated that increased regulation and market volatility would result in new lending remaining at depressed levels until 2012.