The county retirement system has made its first European real estate debt investment, committing $50 million to DRC Capital’s second fund.
DRC Capital and Cheyne Capital fund purchase of Executive Offices and its 28 central London assets.
The Public Employees Retirment Association of New Mexico has approved a $40m (€30.5m) commitment into the DRC Capital European Real Estate Debt Fund II.
Property debt funds are stepping in to replace banks as a source of lending, but real estate experts say the process is still at a very early stage of development.
Real estate debt funds targeting European property deals are raising new capital in the US and globally from investors eager to boost returns with attractive investments that deliver regular income, fund managers said at a round table organised by advisor Brookland Partners in London.
As banks unwind their real estate loan portfolios, DRC Capital puts an emphasis on the income story behind such opportunities – with an eye towards future appreciation.
Upheavals in European real estate credit.
Dale Lattanzio and the rest of the European real estate debt team at Duet Private Equity will raise further debt-related vehicles under their new name, DRC Capital.
DRC Capital is a newly formed advisory and asset management business that will concentrate on providing debt capital to Western European commercial property.
EUROPE – Asset manager Duet Group has launched a new independent investment advisory firm called DRC Capital.