Patrimonium and Bayview launch €500m real estate lending platform

Swiss-based Patrimonium Asset Management and global investor Bayview Asset Management have teamed up to provide commercial real estate loans in Europe, particularly Germany and its neighbouring countries.

Patrimonium Bayview

This new platform is launching with an initial commitment of €500 mln. It plans to offer 2-to-5-year senior, whole-loans, and subordinated debt financing to the German commercial real estate market, as well as to selected nearby countries, including the Netherlands, France, and Luxembourg.
This partnership brings substantial new private capital into the European market, which will be invested in appealing, risk-adjusted real estate debt positions. These positions will be secured by re-priced properties that have strong underlying fundamentals, aiming to capitalise on opportunities arising from traditional banks reducing their involvement in the sector.
The strategy targets loan opportunities ranging from €20 mln to over €100 mln. It will support established borrowers in refinancing existing assets or funding the acquisition of new properties and portfolios. The types of loans offered will cover core+, transitional/value-add, and development projects.
Clement Jacquesson, head of Real Estate Debt at Patrimonium, said: “The strategy is sector-agnostic across multi-family residential, retail, logistics, hotels and high-end office properties. Our partnership will help rebalance the funding gap by offering flexible financing solutions with first and second ranking loans up to 75-80% LTV. Current market conditions present a compelling opportunity, driven by limited liquidity in the European mid-market, ongoing valuation adjustments to higher interest rates, and evolving real estate usage post-pandemic.”
Daniel C. Heine, co-founder and managing director Private Credit at Patrimonium, commented: “We have monitored the German real estate debt market for two decades, anticipating this moment of dislocation. We are convinced that German banks are now being forced to gradually retrench from real estate financing, and the market will evolve similarly to the UK, Dutch, and US markets. The era of alternative lenders in German real estate debt has arrived—and it is here to stay.”
Andrew Smith, head of Commercial Real Estate Debt at Bayview, stated: “Bayview has been building a presence in Europe for years, and we see a tremendous opportunity to provide financing to high-quality real estate sponsors, particularly in Germany and the surrounding markets. This partnership will allow us to accelerate our growth as an attractive source of financing for a wide range of deals.”
Pierre Lussato, Head of Bayview International, added: “European markets, which have historically been dominated by large commercial banks, are moving in the direction of private debt in real estate asset classes as well. Given the fragmentation and granularity of this asset class, origination is difficult, and Patrimonium’s decades of experience in the mid-market corporate space provides a natural access point for high-quality real estate loans serving one of Bayview’s core markets globally.”
Patrimonium and Bayview completed their first transaction in December 2025: a senior facility backed by a fully leased outlet centre in Rostock.