U.S. private equity firm TPG has triggered a second one-year extension on the loan secured against a €310M (£270M) portfolio of European life sciences properties, and it bought a significant portfolio in the medical real estate sector.
The maturity of a €189M senior loan has been extended to February 2027, a notice to investors who had bought CMBS bonds secured against the loan were told earlier this week. That is the last time the loan can be extended without bondholder consent. 
There is also a €76M junior loan secured against the portfolio. The loans were first extended in 2022, at which point the…