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Royal Bank of Scotland has narrowed down the list of bidders for its £1.6bn UK property loanbook to Lone Star, Blackstone, Westbrook Partners and Starwood. Perella Weinberg and Morgan Stanley are believed to be among the up to 12 parties that expressed interest in the loans. Lazard is handling the sale for RBS, which now […]
Financing for big office deal and L&G swell new lending so far this year
Roger Barris’ company Peakside Capital has sold its majority stake in a Berlin residential complex, worth €24.5m. TAG Immobilien bought  the holding, which was held indirectly by the €261m Peakside Real Estate Fund I. The fund inherited the asset after a management buyout of Bank of America Merrill Lynch’s European private equity real estate business […]
Nationwide’s commercial team has provided £33.2m of debt for Europa Capital’s and M7’s Real Estate Light Industrial Property Partnership joint venture. The five-year facility, at a 59% loan-to-value ratio, is secured against LIPP’s 10 UK industrial estates and will refinance £21.5m of debt with Westdeutsche ImmobilienBank, with £12m left for acquisitions. LIPP is already under […]
German asset manager Corpus Sireo is to transfer 16,000 homes it already manages to a new Asset Management Residential business. Stefan Korthals, previously head of portfolio management for the group’s residential real estate portfolio, will lead the business, with offices in Cologne, Berlin and Leipzig. It will provide portfolio and asset management services; and  sales and […]
Grainger has won a mandate to run a new distressed residential property platform for Lloyds – the first agreement of its type in the UK. The deal was secured by Grainger’s asset and property management team, led by Alex Greaves and Anish Thobhani, who will head the Grainger Residential Asset Management Platform. Grainger is thought […]
A Lloyds Banking Group pension fund is one of the three cornerstone investors in the Pan-European Urban Retail Fund (PURetail), launched last month by Lloyds subsidiary Scottish Widows Investment Partnerships with €100m. Robert Matthews, head of international property at SWIP, said the other two investors in the retail vehicle are a multi manager and a […]
Europe faces the biggest property debt funding gap globally, at $118bn over the next three years, according to DTZ. It also lacks the most available equity, proportionate to the shortfall.  The UK is up against the biggest challenge, with a gap of $42bn; followed by Spain at $28bn; and Ireland at $12bn. On the other hand, banks […]
Bank provides finance to help buyer take office development off its hands Benson Elliot has forward purchased a prime Barcelona office investment with stapled finance from Banco Sabadell. Antic Cami de Valencia is a 20,000m2, three-building complex with a projected €80m end value and will be developed by Banco Sabadell’s real estate arm, Solvia. Benson Elliot […]
Topland has refined its strategy for investing in mezzanine debt by teaming up with Dragonfly Property Finance and house builder Westcity to lend on prime central London housing. The move follows Topland’s plan last year to invest up to £200m in a mezzanine fund and reflects the fact that the greatest appetite for mezzanine debt […]
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