Mesa West Capital has provided loans totaling $51.4 million for the acquisition and renovation of two multifamily rental properties in the San Francisco Bay area of California, an area experiencing unrelenting rent spikes. Mesa West cited the Bay Area’s booming rental market as a sign that the loans, which carry loan-to-value ratios between 65% and […]
2 min read · 14 August 2014
Brockton Capital has refinanced its UK retail parks portfolio with a new loan of around £190m, Real Estate Capital can reveal. It is understood that Aareal Bank has provided a five year facility that is held against a portfolio of eight parks. The parks are thought to be valued at around £300m, meaning a loan-to-value […]
2 min read · 14 August 2014
JLL has recruited a new national director to establish a debt advisory business in Spain. Jorge Valenzuela Requena has been recruited from Hill International, the project and construction management business where he was business development director Requena’s role will be to help investors in the country to get the best possible financing terms and prepare […]
2 min read · 14 August 2014
A bank has been chosen to refinance the iconic Savoy Hotel in London’s West End, Real Estate Capital can reveal. Deutsche Bank is understood to be the preferred party to lead the £300m refinancing, beating Citibank to the mandate. Eastdil Secured was appointed to search for a party to refinance the luxury hotel by its owners Saudi […]
1 min read · 14 August 2014
MetLife has provided Shorenstein Properties with $170m to refinance the office building at 850 Third Avenue in Midtown Manhattan. The new three-year floating rate loan replaces a $180m loan Deutsche Bank provided in 2010, a person familiar with the deal said. The office complex, built in 1962, is located between 51st and 52nd Streets, on the east side […]
2 min read · 13 August 2014
Harry Macklowe of Macklowe Properties has secured a $65m mortgage loan for the acquisition of a mixed-use development project at 985 Third Avenue, on the east side of Midtown Manhattan. The lender of the variable rate loan is Singapore-based bank Domenico PTE, city property records show. Macklowe paid sellers SL Green and Emmes Asset Management a combined $86.9m […]
2 min read · 13 August 2014
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
