BNP Paribas has provided a £90.4m senior loan to Tishman Speyer for its purchase of 100 New Oxford Street in London’s West End. 100 Oxford Street croppedThe facility has a maximum term of six years and includes a £5m tranche to cover costs while the property’s existing vacancy is leased up. It reflects a loan-to-value of nearly 70%.
1 min read · 12 February 2015
David Metalonis has joined Lionheart Capital as chief investment officer, the Miami-based real estate investment firm known for its Ritz-Carlton residential projects announced today. The former senior vice president and partner for Colliers International will oversee acquisitions, dispositions, procurement of debt and equity funding. Metalonis has $1.5bn in transaction volume under his belt and brings 12 years of real estate experience to Lionheart.
1 min read · 11 February 2015
Former Starwood Property Trust executives Boyd Fellows and Warren de Haan are drawing up plans to launch a new lending business as early as next month, Real Estate Capital has learned. The duo is considering a platform that would originate loans out of a portfolio made up of private capital, and it could also underwrite and broker loans as an intermediary, sources said.
2 min read · 11 February 2015
Impax Asset Management has appointed EY’s real estate corporate finance team to raise a new green property fund.
2 min read · 11 February 2015
HIG Capital has bought a portfolio of around €50m of non-performing loans from Italian bank Group Cassa di Risparmio di Cesena. The private equity investor has bought at a discount in the region of 45%. The 52 loans are secured by a mixture of residential and commercial real estate, predominantly in the regions of Emilia-Romagna and Marche in northern Italy
2 min read · 11 February 2015
Deutsche Pfandbriefbank has funded the purchase of a shopping centre in Berlin for Tristan Capital with a €50m loan.
2 min read · 10 February 2015
Karlin Real Estate has provided $96m in first mortgage debt to refinance three resort properties in Arizona and Colorado. The firm provided a three-year (with two one-year extension options) $50m senior loan to IMH Financial Corporation to refinance the L’Auberge de Sedona and the adjacent Orchards Inn in Sedona, Arizona; and a five-year, $46m senior loan to Grand Heritage Hotel Group on The Stanley Hotel in Estes Park, Colorado.
2 min read · 09 February 2015
The five-year deal reflects a loan-to-value is thought to reflect a loan-to-value of slightly above 50%. The facility includes €10m for future capital expenditures and upgrades.
1 min read · 05 February 2015
Apollo Commercial Real Estate Finance has closed a $20m mezzanine loan secured by the 488-room Los Angeles Marriott Burbank Airport hotel in Burbank, California. MBURBThe five-year, fixed rate mezzanine loan carries a 74% loan-to-value and was underwritten to generate an 11% IRR. It is part of a $90m financing that includes a $70m first mortgage from Deutsche Bank subsidiary German American Capital Corp.
1 min read · 05 February 2015
Omni Capital has provided a £30m debt facility to a healthcare developer owned by Lawrence Tomlinson, the government’s former entrepreneur in residence and fierce critic of Royal Bank of Scotland. The debt business, owned by Christian Candy’s CPC Group, has issued a four-and-a-half year loan to LNT Care Developments, a specialist developer of care homes chaired and owned by Tomlinson. The loan will be used to expand the company’s development pipeline within the UK.
3 min read · 05 February 2015
