REC staff

Buyer agrees to take on liability of previous loan on German properties

Columbus Capital Management, the separately run, opportunity fund division of Schroders’ property business, has raised £80m at the first closing of its third fund. The new fund has a lower target return than previous funds, at 15%. Ten UK institutional investors have subscribed to the fund. Like other sponsors, Columbus hopes to attract more equity […]

AIM-listed group plans residential launch after refinancing resi portfolio

Henderson Global Investors hopes to have a first closing soon for its Central London Office Fund II, after receiving commitments from three investors. It is thought that £100m of equity has been promised by UK, Nordic and North American institutional investors. The seven-year, absolute-return, closed-ended fund, managed by Clive Castle and Nick Deacon, is modelled […]

BNP Paribas plans to raise two new property funds and has recruited Chris Carter Keall, formerly head of UK funds at Valad Property Group. BNP Paribas Real Estate’s investment management business has launched a pan-European real estate fund called Next Estate, which will focus on green office buildings. The company also plans to launch a […]

Dutch property lender SNS Property Finance is retrenching to its home market and selling its non-Dutch loanbook, a mixture of performing and non-performing loans. A €2.4bn European portfolio is up for sale, mainly comprising loans in Germany, France and Spain. Cairn Capital is thought to be advising SNS Property Finance. Dutch loans account for 73% […]

Parent company and third-party clients back AXA REIM’s plans to step up debt market activities

German bank set to place £50m of debt secured on Manchester block

Chris Bates, a senior director within the European real estate finance division at Royal Bank of Scotland, has been appointed to lead the business from which his former boss, Mike McNamara, recently stepped down. Bates’ job title is now head of real estate in RBS’s global banking and markets division. A new business plan is […]

Four investors back institutional UK fund offering geared and ungeared returns, while managers will co-invest to ensure alignment of interests