Blackstone is searching for £550m of fresh debt for an early refinance of its European Mint hotels portfolio, Real Estate Capital can reveal. The private equity firm has appointed Eastdil Secured to source the finance. The proactive move will decrease the company’s cost of debt and offers Blackstone the opportunity to take cash out – a […]
2 min read · 09 October 2014
Lloyds Banking Group has completed another large refinancing for a private property company client’s UK portfolio. The bank has provided a new £210m five-year loan to David Pearl’s Structadene Group, replacing an existing facility provided by the bank. The deal has been priced at around 250 basis points at a conservative loan to value ratio, and the […]
2 min read · 09 October 2014
Aareal Capital Corporation has provided San Francisco-based The Swig Company and New York City-based Himmel + Meringoff Properties with $134.2m in financing for the redevelopment of 1460 Broadway in Times Square. The lender, a subsidiary of Wiesbaden, Germany-based Aareal Bank Group, provided a five-year, floating-rate loan with two one-year extension options, Real Estate Capital has learned. Last […]
2 min read · 06 October 2014
Developer lands $420m from Goldman/Dune
1 min read · 06 October 2014
Blackstone provided a $56m first mortgage loan to Ivy Realty for the refinancing of One East Broward Boulevard, a 343,551 sq ft, Class A office tower in Fort Lauderdale, Florida. It is a three-year, floating rate, interest-only, non-recourse bridge loan with two one-year options. Connecticut-based Ivy Realty paid a reported $42m for a majority stake […]
1 min read · 06 October 2014
Nationwide is preparing to sell a portfolio of £1bn of loans held against UK real estate. The building society is understood to have appointed Deloitte to carry out the process. Held against predominantly secondary assets issued to around 40 different borrowers, significant elements of the portfolio are thought to be performing or sub-performing rather than […]
2 min read · 06 October 2014
Eliza Bailey, formerly head of private real estate debt at Partners Group, has a new job
2 min read · 03 October 2014
Kennedy Wilson Europe Real Estate is close to raising £350m through a new share issue. It has or is in the process of issuing nearly 35 million shares representing around 35% of the company’s share capital. This will give the company, which launched a £1bn initial public offering in February, new firepower to invest into […]
2 min read · 03 October 2014
CNL Commercial Real Estate and Long Wharf Real Estate Partners have secured a $38.2m loan for the refinancing of Sawgrass Lake Center in Sunrise, Florida. The loan, provided by Mesa West, according to sources familiar with the deal, will also fund future tenant improvements and leasing costs at the 239,373 sq ft, Class A office […]
1 min read · 02 October 2014
LaSalle Investment Management’s £440m UK LaSalle Residential Finance (LRF) fund has expanded its mandate into hotels and completed its first deal in the sector, Real Estate Capital can reveal. The broader remit will allow it greater flexibility to compete for deals in the slowly reawakening UK development finance market. The fund previously focused on only […]
2 min read · 02 October 2014
