Niche property lender Contour Capital has appointed Gordon Mackie as a director.
1 min read · 18 February 2015
LaSalle Investment Management’s debt financing team arranged €714m of financings in 2014.
1 min read · 18 February 2015
Legal & General’s lending arm has provided a £75m loan to refinance five hotel assets at Gatwick and Stansted airports.
1 min read · 18 February 2015
BMC Investments received a $26.4m loan from Freddie Mac for its acquisition of the Lakeview Apartments in Westminster, Colorado. The 10-year (three years interest only) loan carries a 3.65% fixed-rate. BMC paid a reported $32m for the property, putting the loan-to-value at more than 82%. The seller, Belgarde Enterprises of Minneapolis, paid just $4.4m for the property in 1993. […]
1 min read · 18 February 2015
RailField Realty Partners and Artemis Real Estate received a $44.6m loan from Fannie Mae for the acquisition of Signature Ridge, a 612-unit, Class A multifamily community in San Antonio, Texas. The 10-year floating-rate loan (five interest-only). The acquisition price was not disclosed, but broker CBRE put the loan-to-value around 70%, valuing the asset at nearly $64m.
1 min read · 18 February 2015
The formal process to privatise Deutsche Pfandbriefbank has begun with its owners appointing investment banks Citigroup and Deutsche Bank.
2 min read · 17 February 2015
Lloyds has extended the loan held against the Valad Europe’s University Capital Trust. The bank has provided a £42m facility held against the five-asset vehicle, which reflects a loan-to-value of 43%. The previous £37m loan secured against the portfolio was due to expire at the end of last year and has been extended by two […]
1 min read · 16 February 2015
Venn Partners has established a Dutch residential mortgage origination arm and plans to expand its lending in the country to €1bn by the end of the year.
2 min read · 16 February 2015
Hotel fundamentals are exceeding peak levels and destined for uncharted territory if positive economic forecasts pan out and lenders can maintain their discipline. Data from Jones Lang LaSalle shows that RevPAR — or revenue per available room — in 85% of the top 25 markets has already exceeded the peak from last cycle. Average national RevPAR of $76 as of November was $10 higher than the 2006 peak; and average daily rate (ADR) of $116 is almost $10 greater than the 2007 peak.
2 min read · 12 February 2015
Royal Bank of Scotland has provided one of the largest speculative development loans this cycle in the UK, Real Estate Capital can reveal. Four Pancras Square croppedThe £100m ticket will be used to build 170,000 sq ft Four Pancras Square at the King’s Cross Central scheme in London. The debt reflects around 55% of the construction cost, which will be in the region of £180m. It is “the first of what is hoped will be a series of financing solutions from RBS” said the borrower, the King’s Cross Central Limited Partnership.
2 min read · 12 February 2015
