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A combination of the two Swiss banks’ businesses could cement UBS’s position as an industry behemoth both home and abroad.
SVB and Signature, along with troubled bank First Republic, had been major sources of financing for many real estate managers.
The deal makes the New York company the fourth-largest US mortgage REIT.
The US trails the EU on adoption of ESG investment principles, with a consensus that more incentives are needed for momentum.
The events could be the start of a period of defaults and delinquencies for the US office market.
While the tone of the market feels anecdotally better, transaction activity has still not yet picked up.
The firm is looking to grow its debt platform and recently hired Dean Dulchinos as head of debt portfolio management to oversee activity.
While there is growing interest in debt as an investment, Azelby noted the equity and the debt sides of the business remain distinct.
About 26% of all capital raised during the first nine months of the year was allocated to the sector.
Putting the deal together was like a jigsaw puzzle, says Triangle Equities.