CREFi data supports Jefferies’ REITonomics for the first time
We are pleased to announce that for the first time, Jefferies, a highly regarded name in UK REIT equity research, has utilised CREFi data in its latest REITonomics report - ‘Concrete & Clay’ (published 12 September 2024).
Bringing greater insight into UK Debt Market Dynamics
CREFi’s expertise lies in gathering and structuring data from a range of public sources, including corporate filings, land registries, and charge registers. This data is meticulously organised to provide loan-level intelligence, giving Jefferies access to valuable insights on secured assets. The integration of CREFi’s data has allowed Jefferies to enhance its focus on key market dynamics, such as refinancing schedules and asset valuations, broadening its perspective on the trajectory of both public and private markets.
Refinancing under the spotlight
A key area in which CREFi’s contribution has strong impact is in its detailed mapping of upcoming London office refinancing events. With the aid of CREFi’s data, Jefferies has delivered highly nuanced view of this refinancing landscape, identifying both opportunities and risks ahead. Their report notes, “REIT debt disciplines have improved,” but the extent of refinancing risk, in broader private markets, may have further bearing on asset valuations, which in turn affects investors in the public markets exposed to the sector.
Understanding Shifting Asset Values
Jefferies has also utilised CREFi’s data to monitor the valuation of specific assets, highlighting how hybrid working, sustainability, and AI are driving increased uncertainty and greater variations in pricing based on asset quality. CREFi’s data provides a detailed look at this emerging stratification, from Canary Wharf to the City and through to the West End. As capital markets become more selective and financing tightens, CREFi’s insights serve as lead indicators of market direction, helping investors assess the relative risk and resilience of different submarkets and underlying assets.
Conclusion: Jefferies Leverages CREFi’s Expertise
Jefferies’ decision to incorporate CREFi data into its analysis for the first time marks a significant step in enhancing market understanding, validating how CREFi’s data can support more informed decision-making for clients. Offering both granular loan detail and a comprehensive view of lending activity across markets, CREFi’s data is invaluable at a time of considerable change and uncertainty.
Notable Quote: “CREFi’s extensive dataset enables us to zero in on refi ladders, building values, and loan coverage ratios in REIT forecasting.” — Jefferies REITonomics Report: ‘Concrete & Clay’, September 12, 2024
If you would like to learn more about how CREFi can support your business please get in touch.