David Hatcher
Royal Bank of Scotland revealed in its annual results this morning that £12.6bn of gross property loans remained within its “bad bank” division. But the bank also said that it is running one year ahead of schedule in its target, set in January 2014, to run down 85% of the Capital Resolution Group (RCR) book by […]
Kennedy Wilson Europe Real Estate has secured a new €264m facility from the Bank of Ireland to finance a portfolio of assets in Ireland, the company revealed as part of its first full annual results this morning.
Citi has financed the purchase of a £1bn non-performing loan portfolio for Cerberus Capital Management, Real Estate Capital can reveal.
British Land has put in place a new £485m revolving credit facility at a margin of only 90bps.
BL logo croppedThe unsecured facility is the lowest arranged in the UK by a listed real estate firm this cycle and is a reduction of 25bps on the facilities it is replacing. The margin beats the previous lowest of 105bps, arranged by Great Portland Estates in October last year
Prestbury Investments has appointed advisers to refinance the portfolio of Secure Income REIT ahead of a sale of the the REIT’s famous Madame Tussauds waxwork tourist attraction, Real Estate Capital can reveal.
Kennedy Wilson and Fairfax have refinanced The Rock in Bury, once estimated to be worth more than £270m, with a new loan valuing the shopping centre at £88m.
Kennedy Wilson Europe Real Estate has bought loans held against eight Park Inn hotels across the UK for £61.5m reflecting a gross yield of 9.3%.
Allianz Real Estate has financed Merlin Properties’ acquisition of the Marineda shopping centre in La Coruña with a €133.6m loan.
The 10-year loan has a fixed rate of 2.66% with no amortisation. It has a loan-to-value of close to 50%.
Niche property lender Contour Capital has appointed Gordon Mackie as a director.
LaSalle Investment Management’s debt financing team arranged €714m of financings in 2014.