HSAM Europe Expands Real Estate Lending to €3 Billion
The firm is targeting senior secured loans for developers and property owners who need flexible financing options.
Updated on Oct. 21, 2026 in Commercial
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HSAM Europe is expanding its private credit platform to target €3 billion in Western European real estate loans. This initiative, which includes a recent £12 million bridge loan for a Cheltenham hotel, aims to fund projects that fall outside standard bank lending criteria.
Why it matters
By providing capital for acquisitions, renovations, and development exits, this strategy creates a new financing option for borrowers facing complex timelines or unconventional business plans. It reflects a shift in how mid-to-large scale property projects secure funding when traditional banks pull back.
The firm targets loans ranging from €10 million to €120 million with terms of one to five years and loan-to-value ratios up to 75%. Borrowing costs for these senior secured loans start at 6% per annum.
The players
HSAM Europe
An investment firm that has spent over a decade in the European real estate credit market and recently acquired RoundShield.
Banor Capital
An investment firm and borrower that recently secured a £12 million bridge loan for a hotel property.
DoubleTree by Hilton
A 148-key hotel located in Cheltenham that served as the recipient of a recent £12 million bridge loan.
The details
HSAM Europe structures these loans by evaluating business plans and assets across the entire capital stack. Financing is available for diverse property needs, including new acquisitions, lease-ups, capital expenditure programs, and development exits. This approach targets gaps in the market where conventional lenders might decline due to rigid structural requirements.
Timeline
Last year: HSAM acquired debt specialist RoundShield.
Next one to two years: Firm targets €1 billion to €2 billion in senior secured loans.
Medium term: Firm targets €3 billion of total real estate lending.
The Home Front
This move highlights the ongoing shift toward private credit as a primary source for major real estate financing when traditional banks become more risk-averse. It signals a growing reliance on alternative capital stacks for large-scale property acquisitions and developments.
Property owners and developers managing large-scale projects should track these alternative lending benchmarks when considering future refinancing or capital improvements. It is important to consult with a professional financial advisor to evaluate how evolving loan-to-value requirements may impact your specific project equity.
The takeaway
The expansion of this platform offers a new, though more costly, avenue for securing capital outside traditional bank parameters. Property stakeholders should keep the 6% starting interest rate in mind as a baseline when evaluating the feasibility of future development or bridge-loan scenarios.
Further reading
Explore more analysis of property financing trends in our Commercial section.
Source note: This article includes information reported by Bisnow.
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