Global alternatives asset manager Tikehau Capital and French property developer Altarea have launched a new real estate credit platform targeting €1 bn, with €200 mln already secured from both sponsors.
The goal is to bridge a liquidity gap in the market across a range of property categories including office, retail, industrial, residential, logistic and hospitality.
The platform will offer real estate sponsors and corporations flexible finance alternatives, concentrating on asset-backed and conventional corporate financings, particularly through junior mezzanine or whole loan debt instruments.
It will leverage the group’s expertise in private credit and real estate asset classes, providing investors with access to pipelines and networks to identify attractive investment opportunities.
Antoine Flamarion, co-founder of Tikehau Capital, said: ‘We are excited to launch our Real Estate Credit platform as we see a number of upcoming potential attractive opportunities throughout Europe. Tikehau Capital has a strong track record in real estate and private credit, and we believe that this platform will offer investors potential attractive returns while providing much-needed financing solutions for European property owners and developers, in particular in an environment where interest rates are rising sharply and liquidity dries up.’
Alain Taravella, executive chairman and founder of Altarea, added: ‘We believe there is a strong momentum to initiate this strategy today. Real Estate companies and sponsors are still adjusting to the new environment with higher interest rates, more difficult refinancing ahead and progressive price discovery on asset values across all asset classes. Altarea brings a wealth of expertise in Real Estate from an equity perspective as an investor and a developer, providing deep insight into project risk assessment and the capacity to manage complex situations.’
Maxime Laurent-Bellue, head of tactical strategies at Tikehau Capital, will guide the platform and investment process.
Tikehau Capital has already completed 15 investments through its special opportunities franchise, for a total of around €500 mln.