Ivanhoé Cambridge and partner Callahan Capital Properties’ $2.2bn purchase of 1095 Sixth Avenue (3 Bryant Park) in Manhattan earlier this month was the priciest acquisition of a single US office building ever funded with a CMBS deal. The deal was reportedly backed by a $1.3bn fixed-rate, standalone CMBS loan originated by Deutsche Bank.
2 min read · 27 January 2015
Oxford Properties has commenced a search to refinance Watermark Place in the City of London, Real Estate Capital can reveal.
2 min read · 27 January 2015
Bank of America Merill Lynch has issued initial price guidance on its €286.4m CMBS – Taurus 2015-IT.
2 min read · 27 January 2015
Omni Capital, the lender backed by Christian Candy’s CPC Group, has provided an £8.9m loan for the development of a luxury residential scheme in Chiswick, West London. The 15-month loan will be used to convert an office building into 19 flats with an estimated end value of £13.5m. A day-one draw down of £5.6m is available under the terms of the facility
1 min read · 26 January 2015
Barclays has lent Harbert £96m to fund its acquisition of a portfolio of nine offices across the UK. The bank provided a four-year whole loan reflecting a 70% loan-to-value on the £137m purchase price. Barclays acted as sole arranger, lender and agent on the facility. It may sell down a junior portion of the loan.
2 min read · 26 January 2015
Multifamily lender Pillar has added four new hires to its lending platform, including former Freddie Mac executive Edward Hussey, who will head the firm’s multifamily production team. Edward Hussey Edward Hussey Hussey, based out of the firm’s Vienna, Virginia offices, is responsible for multifamily production across all of the firm’s product lines, including Fannie Mae, Freddie Mac, FHA, CMBS and life insurance company financing.
3 min read · 23 January 2015
Colony Capital has appointed a chairman of its international business to be responsible for identifying new investment opportunities outside the US. Philippe Costeletos has joined the Los Angeles-based firm from TPG Capital where he was a partner and head of Europe.
1 min read · 23 January 2015
Münchener Hypothekenbank has financed Amundi Real Estate’s purchase of Square 41 with a €20.7m loan. square_41Advised by investment manager Laxfield Capital, it issued a five-year loan and the LTVs of MHP’s deals are usually between 50% and 60%.
1 min read · 23 January 2015
Aeriance Investments completed €286.5m of residential and commercial real estate loans in the UK last year. ThakerThe debt fund manager closed 15 deals during the 12 months and has now lent €1.23bn since its inception in 2008. It closed €57.9m of deals in the fourth quarter of 2014.
2 min read · 23 January 2015
CREFC Europe is holding a professional negligence after work seminar in the wake of the Titan v Colliers High Court case. CREFC EUIn October last year Colliers International was found to have negligently valued a German property in 2006 that made up part of the collateral for the Credit Suisse-arranged Titan Europe 2006-3 CMBS. Colliers, which intends to appeal the decision, was found to have overvalued one of the properties by €32m. The seminar will be held on Thursday 5 February at the Langham Hotel in the West End of London and hosted by lawyer Rosling King.
1 min read · 23 January 2015
