Chicago-based private equity real estate firm Walton Street Capital has raised its first capital for its debut debt fund, Walton Street Real Estate Debt Fund, writes Jonathan Brasse. The firm raised $120 million from three investors at the first close, including a $100 million seed commitment from pension plan Texas Municipal Retirement System. A second […]
2 min read · 09 September 2014
Blackstone’s US-listed mortgage trust has made its first loan in Spain, following its recent entry into Continental European property lending. Blackstone Mortgage Trust has provided a €72m whole loan for US private equity firm Kohlberg Kravis Roberts’ (KKR) purchase of two Spanish retail assets from British Land: Nassica, a 95,000 m2 retail and leisure centre […]
1 min read · 09 September 2014
Fitch Ratings is raising another red flag on single-borrower, single-family rental securitizations in its latest clash with the methodologies of its competitors. The ratings agency distributed an article last week explaining why it has not yet rated any SFR securities. In the article, titled “US Single-Family Rental Deals Face Higher Refinance Risk,” authored by managing […]
3 min read · 08 September 2014
Lloyds Bank Commercial Banking has appointed a successor to Barry Fowler, its former head of corporate real estate, Real Estate Capital can reveal. Madeleine McDougall (née Forrest) has been brought in as head of origination with its global corporate real estate business from Deutsche Pfandbriefbank. She will concentrate on Lloyds’ large ticket lending of usually […]
2 min read · 08 September 2014
US property companies are heading to Tel Aviv to access a new source of competitive capital Back in 2006, Boaz Gilad, CEO of Brooklyn-based condominium developer Brookland Capital, met with a group of Israeli financial consultants to contemplate doing something that no US-based real estate owner or developer had done before: launch a bond in Israel to raise […]
6 min read · 05 September 2014
Enterprise Finance, the mortgage broker backed by ISIS Equity Partners, is bidding to tap the growing market for bridging finance for property development following the takeover of specialist lender West One Loans. Enterprise, which is the UK’s largest specialist distributor of secured loans, has funded the transaction through a combination of cash and equity although […]
2 min read · 05 September 2014
Real estate debt funds targeting Europe have already raised more capital in 2014 than in any year since the downturn, according to research from Real Estate Capital’s parent PEI Media Research and Analytics. In the first half of 2014 alone $9.97bn was raised by funds targeting Europe, accounting for 53% of all real estate debt funds […]
2 min read · 05 September 2014
Three German banks have added €208m of bank funding at a competitive all-in cost of 2.2% to the Segro European Logistics Partnership (SELP), Real Estate Capital can reveal. Helaba, Aareal and Deutsche Pfandbriefbank, all existing lenders to the joint venture between the UK REIT and Canadian pension fund PSP, have provided the additional finance. The […]
2 min read · 04 September 2014
A group led by Bank of America has provided developer John O’Donnell of O’Donnell Investment Co. with a $296m loan for the construction of a 53-story riverfront office tower in Chicago, Illinois. Bank of America partnered with German bank Helaba and British-owned American bank RBS Citizens. The financing takes the form of a four-year, floating […]
2 min read · 03 September 2014
Beacon Capital Partners France has refinanced the country’s tallest office tower through a €600m refinancing package from pbb Deutsche Pfandbriefbank, Aareal Bank and Blackstone Real Estate Debt Strategies. A maturing loan secured against First Tower in Paris’s La Défense business district, was replaced with €515m of senior debt and an €85m mezzanine loan. The 758 […]
2 min read · 03 September 2014
