Finnish real estate investment company Sponda has agreed to syndicated credit facilities totalling €600 million from a club of Nordic and German banks.
Merlin Properties, the Spanish SOCIMI, has completed an €850 billion unsecured bond issuance with a maturity of seven years and an all-in cost of 2.225 percent.
pbb Deutsche Pfandbriefbank has provided a €63m senior loan to Cerberus Capital Management to refinance three German retail properties. The funds will also be used to refurbish the three shopping centres located in Bielefeld, Bonn and Konstanz.
Tristan Capital and Avestus Capital Partners have jointly purchased an office park in Poland with a €71m five-year loan from pbb Deutsche Pfandbriefbank.
The new facility will be used to acquire Enterprise Park and adjacent development land in Kraków.
Blackstone has won the hotly contested bidding for Catalunya Banc’s €6.4bn Project Hercules portfolio of bad Spanish residential loans. The US opportunity fund is paying €3.5bn for the portfolio, which Catalunya Banc said had already been written down by €2.2bn to €4.2bn. To get to €4.2bn, FROB – the agency set up to restructure Spain’s troubled banks – will […]
Opportunistic investor Bayside Capital has acquired its first non performing loan portfolio in Italy and is about to close its third Dutch deal with joint venture partner M7 Real Estate. Bayside bought the NPLs, with a €40m face value, from Banking Group Cassa di Risparmio di Ravenna. The assets are secured against a mix of apartments, […]
Equinox, Hercules and DECO deals may be hit, Barclays Capital warns
Asian lenders power up Battersea Four Asian banks have under- written £790m of development finance for the Malaysian owner- developers of London’s Battersea Power Station site. Malaysia’s CIMB Bank and Overseas Chinese Banking Corporation, Singapore’s Maybank and Standard Chartered provided a 3.5-year facility for phase 1, including the power station refurbishment, and a five-year loan to […]
Real Estate Capital commentary As 2012 draws to a close, the biggest UK financing deals in the market are for hotels. DekaBank and Credit Agricole are refinancing the maturing loan on London’s Savoy for the landmark’s royal Saudi Arabian owner, while three banks are underwriting and arranging finance for ADIA of Abu Dhabi to buy […]