Altarea and Tikehau Capital have launched a real estate credit platform targeting €1bn with €200m already secured from both sponsors.
The fund aims to bridge an anticipated wide liquidity gap in the market across a range of property types including hospitality.
The platform will provide flexible capital solutions to real estate sponsors and corporates, with a focus on asset-backed and traditional corporate financings, notably through junior mezzanine or whole loan debt instruments.
The platform and investment process will be guided by Maxime Laurent-Bellue, head of tactical strategies at Tikehau Capital.
Why it matters
The establishment of the platform provides a significant and much-needed new source of funding for the hotel sector, particularly at a time when there’s a lot of uncertainty with regards to refinancing as traditional sources of capital tighten their purse strings.
What they said
Antoine Flamarion, co-founder of Tikehau Capital said: “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 chair and founder of Altarea added: “We believe there is a strong momentum to initiate this strategy. 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.”