Berlin Hyp and Postbank have teamed up to provide a €92 million loan for the acquisition of a pan-European car park portfolio for the Bouwfonds European Real Estate Parking Fund III. The lenders, which will contribute equally to the debt facility, have provided a five-year term including an extension option. Berlin Hyp has acted as […]
1 min read · 01 August 2017
Spanish bank Banco Popular has entered exclusive talks with Blackstone over the sale of a majority stake in its €30 billion property portfolio, the bank said in a statement released on Monday. Blackstone has agreed to acquire 51 percent of Popular’s portfolio, comprising repossessed assets worth an estimated €18 billion and €12 billion of non-performing […]
2 min read · 01 August 2017
Berlin Hyp has underwritten a senior loan of €54 million to finance the Airport Plaza building in Brussels, which was acquired by Canada’s Dream Global REIT for €95.9 million last May. The Canadian investor is in negotiations to place the long-term mortgage financing for a term of up to seven years and an interest rate […]
1 min read · 31 July 2017
TH Real Estate has been awarded a mandate to invest in the UK Commercial Real Estate (CRE) debt market by The Korean Teachers’ Credit Union (KTCU). The South Korea retirement fund – with assets of 27 trillion won (€20.5 billion; $24 billion) – is investing in senior loans secured on London office assets. The new […]
2 min read · 31 July 2017
German real estate company Grand City Properties has raised €600 million under its €1.5 billion Euro Medium Term Note (EMTN) programme to refinance or repay its existing debt. The notes, with a maturity of nine years and a coupon of 1.375 percent, had a subscription price of 96.82 percent. The issue was three times oversubscribed, […]
2 min read · 28 July 2017
Deutsche Asset Management has financed investor NEO Capital’s debut UK acquisition, with a £27.6 million loan arranged by advisor HFF on an office scheme in London’s Hammersmith area.
2 min read · 28 July 2017
Our recent special report on the health of the German real estate lending market laid bare the challenges facing the country’s banks. Driven by their funding model, real estate bankers are under continual pressure to replenish property loans to maintain the pools of assets that back their issuance of Pfandbrief notes; their principle source of […]
3 min read · 27 July 2017
Allianz Real Estate has provided a €290 million loan to German pension fund BVK Bayerische Versorgungskammer for the financing of Ireland’s Liffey Valley shopping centre. The insurer acted as sole lender, providing a seven-year fixed-rate loan “at an attractive all-in rate and a conservative LTV”, Allianz said. It declined to provide further details of the […]
2 min read · 27 July 2017
Canada Pension Plan Investment Board has provided a £250 million ($328 million; €281 million) junior loan to intu Properties, according to Real Estate Capital’s sister title, Private Debt Investor. The UK shopping centre company is owner of the Trafford Centre in Manchester, valued at £2.3 billion, and the Lakeside Shopping Centre in Essex, valued at £1.4 billion. The company […]
2 min read · 27 July 2017
Allied Irish Bank has provided a €155 million loan to refinance the Jervis Shopping Centre in Dublin, Real Estate Capital has learned. AIB Real Estate Finance gave the loan to JSC Properties, a company owned by Northern Ireland property developers Padraig Drayne and Paddy McKillen. The retail park was opened in 1996. The seven-year whole […]
2 min read · 26 July 2017
