Paul Yandall
Bank of America Merrill Lynch has provided more than €700m to Blackstone for acquisitions in the UK and Germany. The US bank has supplied €335m to the private equity giant for its €470m purchase of the Kingfisher retail portfolio of German assets. BAML has also provided £260m (€367m) to Blackstone for its purchase of some of GE Capital’s industrial and office assets in the UK, including London’s 98 Fetter Lane development.
Criterion Capital is planning to deploy up to £500m into London’s private rented sector (PRS) market after refinancing £936m of debt with Aviva.
The London-based property company, headed by Asif Aziz, carried out one of the largest refinancing deals this cycle when it secured long-term loans on 35- and 50-year ‘gilt based’ terms.
Goldman Sachs has launched Logistics UK 2015, a £646m CMBS of a loan secured on Blackstone Logicor UK assets.
The transaction securitises 95% of a single Goldman £680m refinancing loan to Logicor, secured by 42 logistics assets located mainly in the Midlands and Yorkshire.
The Royal Bank of Scotland (RBS) has disposed of £1.7bn of real estate loans made by its Irish subsidiary Ulster Bank.
Deutsche Bank and Apollo Global Management have jointly bought a commercial real estate loan book for £400m.
A record €99bn of non-core real estate exposure in Europe's banks is currently or soon to be up for sale, according to Cushman & Wakefield's (C&W) latest loan sales market report. C&W Corporate Finance said that the highest-ever level of live sales was a "staggering" volume and is 4.5 times the volume recorded at the end of Q1 2015.
ING Real Estate Finance has provided an €80m, five-year senior facility and an ancillary €30m VAT loan for TH Real Estate’s and Neinver’s joint-venture purchase of two retail properties in Poland. The properties are Factory Annopol shopping centre in Warsaw and Factory Krakow and Futura Park, both close to Krakow international airport.
Kennedy Wilson Europe (KWE) has appointed Fraser Kennedy as head of finance.
Kennedy will lead KWE’s 19-strong finance team and will report to Mary Ricks, president and chief executive of KWE.
Development lending is predicted to increase by more than a third this year to £10bn, according to a report from the Investment Property Forum (IPF). Based on a survey of 35 lenders and 31 borrowers, financing for development for 2015 will reach £9.98bn in the UK, up from £7.45bn last year. However, cost inflation, particularly […]
Deutsche Bank is bringing its pan-European €316m DECO 2015 Charlemagne CMBS to market before August's summer slowdown.
The CMBS is a securitisation of three loans secured by office, industrial and retail assets worth €493m. The assets are located in the Netherlands, Belgium and Germany.
Helaba is providing a €120m loan to Crédit Agricole to refinance its Tivoli office complex in Paris. The German bank is acting as the sole lender and arranger in the deal.