Deutsche Bank’s European head of mergers and acquisitions for real estate, gaming and lodging has joined Jones Lang Lasalle. John O’Driscoll has left the bank after eight years and will become part of the advisory firm’s corporate finance department where he will take up the new role of head of mergers & acquisitions for Europe, […]
2 min read · 03 September 2014
Blackstone Mortgage Trust has made its entry into continental Europe, issuing its first loan there, on an office portfolio in the Netherlands. Blackstone’s US REIT provided a €28m senior loan for joint venture partners Angelo, Gordon and Valad Europe, secured on the Equinox portfolio of nine Dutch office buildings. In May the investors paid €37m for the […]
2 min read · 02 September 2014
CREFC Europe is organising a seminar focused on interest rate hedging as the prospect of a hike becomes increasingly more likely.
1 min read · 01 September 2014
A trio of banks have supplied Kennedy Wilson Europe Real Estate with £225m, in the listed investor’s first corporate debt facility. Bank of America Merrill Lynch, Deutsche Bank and JP Morgan have put in place a three-year, unsecured, floating rate revolving facility of up to £225m. The company intends to use the funds for general […]
2 min read · 01 September 2014
The Commercial Real Estate Finance Council Europe (CREFC) has submitted its response to the Bank of England’s discussion paper examining the availability of credit data in the UK Headed by chief executive Peter Cosmetatos, CREFC’s response advocates establishing a loan database for commercial real estate financings and suggests that this resource should use CREFC’s European […]
3 min read · 29 August 2014
JP Morgan has provided a $420m, five-year floating-rate CMBS loan to Thor Equities for the refinancing of the Palmer House Hilton in downtown Chicago. The loan replaces a previous $365m loan, providing a “more flexible loan structure… with a lower interest rate, resulting in millions of dollars in savings per year,” Thor said in a […]
1 min read · 29 August 2014
Point Park Properties (P3) has sealed a €380m financing for its purchase of a 627,000 sq m logistics portfolio in Czech Republic in a new benchmark deal for the cycle in Eastern Europe. A club of three Czech banks fought off competition from German rivals to secure the mandate which is one of the largest and most competitively […]
2 min read · 28 August 2014
The owners of The Savoy have completed a £300m refinancing of the famous London hotel by selecting a private equity investor to provide £100m of mezzanine debt, Real Estate Capital can reveal. Apollo Global Management won the mandate to make the mezzanine loan, which has been priced at an internal rate of return slightly higher […]
2 min read · 28 August 2014
Cornerstone Real Estate Advisers has provided a $95.2m loan to Keystone Property Group for the acquisition and upgrade of six office properties in Westchester, New York and Stamford, Connecticut. A portion of the three-year, floating-rate loan will be used to fund upgrades to the properties, which Keystone acquired through a joint venture with Mack-Cali Realty Corporation […]
1 min read · 27 August 2014
TIAA Henderson Real Estate has refinanced an Austrian shopping centre in its €1.5bn European Outlet Mall Fund and plans to refinance three more of the malls by the end of the year. Deutsche Pfandbriefbank, one of the two previous funders, issued a new €54.7m loan to refinance the fund’s centre in Parndorf, Austria. The five-year […]
2 min read · 27 August 2014
