US private equity fund manager Apollo Real Estate Advisors has created a new European commercial property debt unit to fill the gap 'as others retreat from market'. According to the Financial Times, Apollo is in the process of raising a fund of up to $1bn to invest in discounted property debt from banks no longer able to securitise loans.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
