Many of the concerns that rippled through the CREFC Miami conference this week were directed at the US CMBS market. Delegates asked tough questions about the quality of loans, underwriting and leverage levels. The Canadian CMBS panel this morning at the Fountainbleau Miami Beach offered a striking contrast, with a range of top Canadian lending […]
2 min read · 09 January 2015
Orion Capital Managers has appointed a new UK head of retail, Real Estate Capital can reveal.
2 min read · 09 January 2015
The cheery mood of the CRE Finance Council’s annual conference in Miami Beach carried over last night into a two-hour cocktail reception followed by a variety of late night industry parties. The sentiment is that the US real estate markets are strong, but inevitably some have begun to vocalize concerns about troubling trends in the industry, avoiding […]
3 min read · 08 January 2015
The US Senate voted today 93-4 to reauthorize the Terrorism Risk Insurance Act (TRIA) for an additional six years. The CRE Finance Council issued a statement noting its position at the forefront of the advocacy effort to renew TRIA today as the CREFC Miami conference was in full swing. Created following the September 11 terrorist […]
2 min read · 08 January 2015
KKR has set up a real estate lending platform in India with an investment from Singapore’s sovereign wealth fund GIC. It is the second non-banking financial company (NBFC) set up by KKR in India reports Real Estate Capital’s sister publication, Private Debt Investor, and it will provide structured credit solutions for the country’s real estate sector. KKR’s first NBFC was set up in 2009 allowing the New York-based firm to extend more than $2 billion of structured financing to 21 business groups in India.
2 min read · 08 January 2015
Aviva Commercial Finance has issued three, fixed-rate loans totalling £154m for the development of new healthcare and educational facilities in the UK. The loans, which closed just before Christmas, have long-dated income that match the liabilities of group clients including the Aviva annuity business.
2 min read · 08 January 2015
The CRE Finance Council’s annual Miami Beach conference kicked off todayat the Fontainebleau Hotel with an energy reflective of the buoyant real estate markets. A 10:30 a.m. networking break after the first official panelist forum saw a swarm of industry experts exchanging pleasantries and sowing the seeds of a new year’s deals. “We’re all here to make money, right?” one delegate put it bluntly. Some were already already holding down positions at the hotel’s grandiose circular bar . (Was it really water in that martini glass?).
2 min read · 07 January 2015
Blackstone and TPG have agreed a deal to buy Acenden Mortgage Servicing Solutions, the servicing business that was previously part of Lehman Brothers, from the administrators of the bank.
2 min read · 07 January 2015
Bank of America provided a $76.6m loan backing KBS REIT III’s acquisition of the Ten Almaden office building in downtown San Jose, California. The three-year, floating-rate loan represents a 66% loan-to-value ratio on the reported $116.7m December purchase of the 309,255 sq ft, Class A building from seller Equity Office.
1 min read · 07 January 2015
Loan servicer Situs is to be bought by US private equity firm Stone Point Capital. The business is being sold by Ranieri Partners and WL Ross & Co in a deal thought to be worth $200m. The deal is expected to close in the first quarter of the year.
2 min read · 06 January 2015
