Barings lands Phoenix mandate

摘要

Investment manager Barings has won a £250m real estate debt mandate with The Phoenix Group for its matching adjustment portfolio,Barings will build a portfolio of investment-grade UK commercial mortgage loans across a range of commercial property sectors, including industrial, residential and offices, diversified across greater London and the regions.The loans will have a term of between five and 50 years.Barings has already agreed a £30m first mortgage loan on a 30-year term secured against a mixed used office and retail property on Tottenham Court Road, London, with a loan-to-value ratio below 50%.Sam Mellor, head of real estate debt for Europe and Asia-Pacific at Barings, said: "To have secured this mandate with a leading institution such as Phoenix is a reflection of the strength of our real estate business in Europe."