The European property financing industry has lost two major lenders within a matter of weeks, sending shock waves rippling through the sector. Last week Société Générale Corporate & Investment Banking suspended new UK and continental European property lending indefinitely as the investment bank steps up significant bank-wide balance sheet deleveraging and a reduction in its funding requirements.
Legal & General Investment Management’s (LGIM’s) managed fund has acquired Tesco Yarrow Road Poole from clients of abrdn for £46.1 mln (€54 mln).
