The European head of investment management at the world’s largest CMBS special servicer, LNR Partners, has left the business, Real Estate Capital can reveal. Derek Rich has left LNR by mutual consent following three years with the firm. He was responsible for all investment, advisory and real estate due diligence across LNR’s European business and […]
2 min read · 13 August 2014
Oaktree Capital Management has chosen a financier to provide a whole loan for its £430m purchase of three regional UK business parks, Real Estate Capital can reveal. Barclays is to provide a whole loan of around £344m, reflecting an 80% loan-to-value to the private equity firm. Oaktree had been seeking a five-year loan with a […]
2 min read · 12 August 2014
Bank of Ireland has provided Irish REIT Hibernia with a new three-year, €100m revolving credit facility. The corporate loan is the company’s first since its €375m IPO last December. It means Hibernia now has cash and undrawn committed facilities of more than €140m and €134m of debt held against its €336m of investments. Bank of […]
2 min read · 12 August 2014
LaSalle Investment Management has poached a new director from Strategic Value Partners to work in its debt investments and special situations team, Real Estate Capital can reveal. Daniel Pottorff will focus on western European investments and will report into group heads Amy Aznar and Michael Zerda. The team currently manages €1.9bn of capital and Pottorff […]
2 min read · 11 August 2014
Pbb Deutsche Pfandbriefbank has provided a circa £70m loan to Delin Capital Asset Management secured on a portfolio of eight UK logistics facilities. The assets, totaling 1.77m sq ft, and are held in its Delin’s €400m Capital Preservation Portfolio I fund, which was launched in October 2012. The five-year facility will allow the fund to […]
2 min read · 11 August 2014
With the $342.67m American Residential Properties 2014-SFR1 securitisation set to hit the market, the relatively new single-family rental securitisation asset class is keeping pace with early projections for a breakout year. The offering is the seventh securitisation of SFR homes to date after Blackstone spawned the new asset class in November. The current players – Blackstone, Colony […]
3 min read · 08 August 2014
Colony Capital has provided a €40.4m facility to Dolphin Capital Investors, a residential resort developer in emerging market. The Los Angeles-based private equity firm has entered an agreement with Dolphin Capital for a six year facility that has a fixed 11% rate. On top of this, Colony will receive income from its Amanzoe development near […]
1 min read · 08 August 2014
One of the senior figures in real estate workout in Lloyds Banking Group’s business support unit has left the bank to set up his own business, Real Estate Capital can reveal. Andrew Wilson, head of the real estate solutions team, has departed from the UK bank and is understood to be establishing a new business […]
2 min read · 07 August 2014
The £750m proposed agency CMBS to refinance Westfield’s Stratford City shopping centre in London has been pulled amidst uncertainty over ‘skin-in-the-game’ regulations. Westfield, advised by its banking partners Deutsche Bank and Crédit Agricole, had decided not to retain 5% of the notes, the so-called ‘skin-in-the-game’ designed to regulate arranging banks and align their interests with […]
2 min read · 06 August 2014
NorthStar Realty Finance Corp.’s $4bn acquisition of all outstanding shares of Griffin-American Healthcare REIT II will include a reported $3bn of CMBS backing. Citigroup Global Markets, Barclays Bank, JPMorgan Chase Bank and Column Financial (the real estate financing arm of Credit Suisse AG) will provide the CMBS financing. NorthStar announced that it would acquire the Griffin-American […]
2 min read · 06 August 2014
