REC staff
Cairn advises on Bern disposal Cairn Capital has advised German investor Karl Bartel and the lender on the sale of the Wankdorf-Center in Bern, Switzerland, after a default under the loan-to-value covenant on debt secured on the retail and office asset. UBS Global Asset Management bought the six-year-old scheme for its Sima fund, Swissreal, and the […]
Société Générale’s head of European syndication has left to start a fund focused on buying secondary CMBS and investing in structured real estate debt. Hugo Headicar, director of real estate debt, syndication and sales, spent much of last year working on the White Tower deal. SocGen led a club of five lenders that provided £402.6m […]
Eurohypo has led a £320m refinancing of Saudi Arabian investor The Olayan Group’s Knightsbridge Estate in SW1. Last June Olayan teamed up with Chelsfield Partners to pay Quinlan Private £600m in cash for the central London site. Olayan beat Korea’s National Pension Service (represented by Rockspring) and the Qatari Investment Authority to the deal, amid rampant […]
LGIM poaches two experienced originators for senior lending campaign
The Commercial Real Estate Finance Council Europe has formed a European lender committee to produce lending market standard principles for property finance, chaired by BNP Paribas head of real estate finance Peter Denton. The group will circulate draft guidelines to CREFC members in the next two weeks, before releasing them to the market. The investor […]
Wells Fargo has awarded broker Eastdil Secured the mandate to sell two German multi-family housing loans with a €123m face value. The US bank is seeking offers for a €80.1m performing loan that was lent to Forum Partners in 2006, and a €42.9m non- performing loan that is due to mature next year. The larger […]
Five out of DG Hyp’s seven strong London team have now relocated, with finance head Andrew Goodbody and associate Jan Bleyder also on the verge of moving to new positions. The London office officially closes this week. Relationship manager Katie Wright, who was the last to join the office, from Helaba, has joined Lloyds on […]
MSREF may sell German asset management arm to a private equity firm
Deutsche Bank manages to sell first publicly marketed CMBS in nearly four years, but investors force concessions on controversial X notes
The formation of the Commercial Real Estate Finance Council’s CMBS 2.0 Committee reflects the industry’s wish to modernise in preparation for a return of CMBS new issuance in Europe. As a first step, January’s implementation of the Capital Requirements Directive (CRD) article 122a provided much-needed regulatory clarity to the securitisation market. The CRD goes some way […]