REC staff
IM Properties has secured £150m of debt in two separate facilities from Handelsbanken and Clydesdale Bank Corporate & Structured Finance. Handelsbanken’s five-year, £95m loan replaces debt that expired in June, while the £55m from Clydesdale replaces a £43m Bank of Ireland loan that was due to mature. The debt is backed by two office, retail and […]
UK investment deal volumes fell to £5.8bn in Q2 2011 from £8.5bn in Q1. According to The Property Archive data, the most active investors remained funds, which acquired over £2.2bn of mainly offices, plus retail and hotels. Overseas buyers, led by Far Eastern investors, spent £1bn in central London. Jones Lang LaSalle’s Q2 deal figures […]
Manager taps new capital source to back second emerging markets fund
MSREI moves Poulpiquet to Asia Olivier de Poulpiquet, Morgan Stanley Real Estate Investing’s co-chief executive, will move from Europe to Asia following the bank’s decision to become a net buyer in the region again. Brian Niles will take on the role of European head. Heideby hunts for Resolution Mads Heideby has joined Resolution Property to […]
YONIQ seeds German fund Corestate Capital-owned German student housing developer YONIQ has sold four projects worth €63m into a new closed-end fund launched by MPC Münchmeyer Petersen Capital. MPC will market the fund to investors in the third quarter of this year, while YONIQ will develop and manage assets for a series of student housing […]
Germany’s Bundesbank may sell the bonds it owns in the debt tied to Paris’s Coeur Défense office complex. According to one debt adviser, the Bundesbank owns “a large chunk” of the bonds in Lehman Brothers’ €1.6bn Windermere XII CMBS, through which the asset was funded – a portion of those in every tranche of the […]
Bank to follow up sale of Project Isobel stake with French loans disposal
Four private equity consortiums are competing to buy Anglo Irish Bank’s $9.65bn US loan portfolio. The debt has been split into eight tranches, the largest being $2.26bn of distressed office and industrial loans. Blackstone is working with Deutsche Bank to make a bid by the 9 August deadline, while Westbrook Partners has teamed up with KKR. Centerbridge Capital […]
The EU Commission has approved the €150bn state aid given to Hypo Real Estate during the financial crisis. The clearance given on 18 July means the Commission has also endorsed the new business model for the bank. This involves shrinking its balance sheet and focusing on real estate finance and public investment finance, carried out through […]
Canadian pension fund puts up £190m for London offices joint venture