Creating a uniform European regulatory environment for real estate lending is an uphill battle that will prove difficult to enforce according to industry experts at Real Estate Capital’s London forum. “The European Central Bank has outlined commercial real estate as an area they are concerned about and there are attempts to create a more level […]
3 min read · 30 September 2014
This morning at Real Estate Capital’s London Forum at Butcher’s Hall in the City of London, Rupert Clarke, managing partner at Lipton Rogers Developments and former chief executive of Hermes, revealed his golden rules for bankers to avoid the next bust. Clarke was however pessimistic that any warnings would be heeded. “I think most banks […]
2 min read · 30 September 2014
Situs has hired a new executive managing director of lending risk and advisory services to broaden the focus of the business into new areas including residential. Tim Keast is joining from Clayton Euro Risk where he was chief executive and president. He will head a new division focused on due diligence and risk advisory for […]
1 min read · 30 September 2014
The most senior tranche of Deutsche Bank’s Dutch CMBS has been priced at below 100 basis points. The bank’s €250.04m DECO 2014-TULIP has a senior tranche of €170m that has a coupon of 98 basis points above three month Euribor. The CMBS is made up of two loans made by the German bank: one to […]
2 min read · 30 September 2014
Oak Brook, Illinois-based Inland Mortgage Capital has launched a new bridge-lending platform, appointing two industry veterans to help lead the effort. Daniel Schmitz has been appointed vice president of loan origination, and Kenneth Schutter has been named senior vice president and credit director of Real Estate Venture Capital Program, or REVCAP. Schmitz and Schutter will oversee REVCAP, […]
1 min read · 29 September 2014
Recovery rates on liquidated US CMBS loans rose sharply to 69.5% in Q2, according to Fitch Ratings’ latest CMBS special servicing index. Stephanie Petosa, a Fitch managing director, noted in a statement that the substantial rise came after the rate had reached historic lows the two previous quarters, adding that “a sizeable portion of CMBS loans were liquidated with less […]
1 min read · 29 September 2014
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
