Principal Real Estate Investors and Macquarie Group have joined forces, launching a lending platform focused on originating and securitizing commercial mortgages through the CMBS market. Principal Real Estate Investors will source, underwrite, close and service the loans, while Macquarie will provide funding and capital markets expertise. A spokesperson for Principal told Real Estate Capital the […]
1 min read · 18 September 2014
Margins for German property loans will fall and loan-to-value ratios will rise says the forecast for this year and next in the second annual survey of German commercial real estate lending by the International Real Estate Business School, part of the University of Regensburg. The forecast is in contrast to the position last year. Across […]
3 min read · 18 September 2014
Wells Fargo has refinanced Intu’s 50% share in the St David’s Shopping Centre in Cardiff. The deal is part of a continued drive by the retail specialist to drive down its cost of finance and take advantage of the buoyant debt market. The seven-year facility is split between a £122.5m term loan and a £40.7m […]
2 min read · 18 September 2014
A club of four banks has agreed to refinance the entire 750,000 sq ft retail, leisure and parking portfolio of the Canary Wharf Group, Real Estate Capital can reveal. Lloyds Banking Group, Wells Fargo, Barclays and HSBC have jointly agreed to provide a facility of £600m. The five-year loan has been agreed at a margin […]
1 min read · 17 September 2014
The eight partners of UK property financing business ICG-Longbow could receive up to £37m from the sale of their remaining 49% stake to parent ICG. The sale, led by founders Kevin Cooper and Martin Wheeler (pictured), is due to complete in October, three and a half years after they sold a 51% stake to quoted specialist […]
2 min read · 17 September 2014
Deutsche Bank has launched the first CMBS in the Netherlands and the first to more than one borrower to be structured this cycle. The DECO 2014 TULIP CMBS is made up of two loans made by the German bank: one to PPF Real Estate Holding and the other to a joint venture between Mount Kellett […]
1 min read · 16 September 2014
Grosvenor Fund Management’s London Office Fund has been refinanced by two banks aiming to establish themselves in the increasingly competitive London lending market. BNP Paribas and Sumitomo Mitsui Banking Corporation have provided £201m of finance secured on the fund’s portfolio of four prime central London office buildings at a competitive margin, though on low leverage, […]
2 min read · 16 September 2014
Situs has appointed a new head of Spain as part of its drive to increase its loan servicing and underwriting capabilities in the country. Fernando Salazar Lacalle has been appointed to the position having previously been head of international clients and managing director of Spain for Servicing Advisors Deutschland. He will report to Bruce Nelson, […]
2 min read · 16 September 2014
Irish investors Patrick McKillen and Padraig Drayne have refinanced a large regional shopping centre after regaining control of the asset by teaming up with Colony Capital.earlier this year to buy IBRC’s €800m ‘Pebble’ portfolio of non-performing loans. Deutsche Pfandbriefbank has lent £100m against the 800,000 sq ft Frenchgate Shopping Centre in Doncaster owned by the […]
1 min read · 16 September 2014
Los Angeles-based alternative investment firm Thorofare Capital has raised $400m for a new investment vehicle that will write floating-rate senior loans on value-add opportunities. The program will focus on $5m-$25m senior loans with average durations between two and five years, with rates starting at 5.5% at LTVs up to 75%. In addition to opportunities across the multifamily, […]
2 min read · 15 September 2014
