Cheyne to raise €8.56b for real estate lending program

Cheyne Capital has plans to raise £7.5 billion (€8.6 billion/$9.4 billion) for its Cheyne Real Estate Credit Holdings (CRECH) program to help fulfill U.K. and European borrower demand for funding solutions as real estate transitions to a higher interest-rate environment and banks retreat further from real estate lending.

The areas in which Cheyne believes new debt funding solutions will be most needed are senior lending and recapitalizations, and the firm’s senior loan and capital solutions strategies are focused on these two opportunities. The senior loan strategy will focus only on making senior real estate loans across core, core-plus, value-add and development assets located in the United Kingdom and Western Europe. This will be the eighth launch in the CRECH program and will target a capital raise of £5 billion (€5.7 billion/$6.2 billion). The capital solutions strategy will also make senior loans and, in addition, will also provide comprehensive solutions across