Lone Star has bought another €600m of European non-performing real estate debt, winning part of Ulster Bank’s Project Achill sale, Real Estate Capital can reveal. The US private equity firm has bought half of all the Project Achillloans at a discount of around 35%, paying about €390m. The whole €1.2bn Achill portfolio was secured against […]
2 min read · 29 September 2014
Apollo Global Management has bought a junior tranche of £200m of debt secured against one of London’s most luxurious apartment buildings, Real Estate Capital can reveal. The private equity investor is close to concluding a purchase of £39m of debt held against Grosvenor House Apartments on Park Lane in the West End from Deutsche Bank. […]
2 min read · 25 September 2014
Axa Real Estate Investment Managers has provided a €75m unsecured loan facility to Vastned, the Dutch-listed European retail property specialist. The loan has a term of seven years and a floating interest rate with a “competitive margin”. Axa is the largest pan-European real estate financier among insurers, led by global head of real estate Isabelle […]
1 min read · 25 September 2014
US commercial lending volume continues to increase as banks regain their share of the debt markets, according to a new report from CBRE. Banks accounted for 36% of commercial originations during Q2 2014, gaining 8% of additional market share since last year. That was accompanied by a more than 10% surge in loan closings (by dollar volume) […]
2 min read · 24 September 2014
Kennedy Wilson has raised more capital for investment by increasing its gearing via a £184m, five-year term loan Royal Bank of Scotland. The loan is secured on assets in the UK Jupiter portfolio which Kennedy Wilson Europe Real Estate bought in June, for £296m. Quoted KWERE raised £1bn through an initial public offering in February last year […]
2 min read · 24 September 2014
Citi has financed Blackstone’s latest round of Continental purchases for its logistics platform, Logicor. The bank has provided a five-year loan of €285m to fund thepurchase of 17 assets from SEB, bought for €270m in July, and six Spanish assets that were bought from Gran Europa for €130m in August. The deal reflects a loan-to-value […]
1 min read · 23 September 2014
Clarence Dixon, CBRE’s chief operating office of its Debt Services division, has been promoted to global head of loan servicing. In his new role he will continue to oversee loan servicing in Europe but also become active in the US, joining the board of CBRE’s North American servicing platform, GEMSA and help set up a […]
2 min read · 23 September 2014
The European Association for Investors in Non-Listed Real Estate Vehicles, aka INREV, held its second North American conference on the eve of Scotland’s historic vote for independence last week. Inevitably, the impacts the vote would have on the European Union had been heavily debated. But, for at least one speaker in New York, the vote […]
3 min read · 23 September 2014
Helaba and Handelsbanken have teamed up provide £325m of refinancing for a UK retail portfolio held by a joint venture between British Land and Tesco. The German and Swedish banks, respectively, have each provided half of a new five-year term loan for Tesco BL Properties, secured against two retail parks, five shopping centres and four […]
1 min read · 23 September 2014
Lloyds Banking Group is shaking up its real estate lending operation and has appointed John Feeney to lead an expansion of the bank’s property business. Lloyds told staff this morning that it is to streamline two of the three property divisions at the bank. The change will see Feeney take over responsibility for all real […]
2 min read · 22 September 2014
