pbb Deutsche Pfandbriefbank has provided a €58m facility to Primorial REIM for the purchase of an office building near La Défense in Paris.
The office building is located in Nanterre and comprises 32,615 sq m of office space as well as 650 parking spaces.
Deutsche Bank has provided a $250m loan to refinance the 1 Hotel South Beach in Miami Beach, Florida.
Hammerson has issued a £350m, 10-year bond priced at 173bps over the reference gilt with an annual coupon of 3.5%. The bond was two-times oversubscribed.
Despite recent signs of stabilization, underperforming CMBS retail assets in secondary and tertiary markets will face a slow recovery going into 2016 if retailers experience a weak holiday season, according to Fitch Ratings.
Meridian Capital Group arranged $71m to refinance a mixed-use and multifamily portfolio located in the New York City borough on The Bronx on behalf of The Morgan Group.
The Bank of England has given its backing to the UK property finance industry’s proposal to build a commercial real estate (CRE) loans database. In a speech to the City of London Property Investor’s Banquet last night, Alex Brazier, executive director for financial stability at the Bank of England, said over-gearing in the real estate sector had been a major driver of instability.
Real estate capital services firm Cohen Financial has arranged $106m for a San Francisco, California-based multifamily commercial real estate owner and investor.
Hammerson is funding its share of the purchase of NAMA’s €1.85bn Project Jewel with a new short-term €1bn revolving credit facility from its existing lenders. The facility, which matures in March 2017, reflects a loan-to-value of 81% on Hammerson’s €1.23bn share of the overall purchase price.
Grainger has appointed Unite Group’s Vanessa Simms as its finance director to replace the retiring Mark Greenwood.
Simms, who is the deputy chief financial officer at student accommodation specialists Unite, will join Grainger in early spring 2016 and will be based in London.
CBRE has arranged $65.5m in Fannie Mae financing to The Reliant Group for the acquisition of Mustang Village, a 514-unit, 1,006-bed student housing property located adjacent to California Polytechnic State University in San Luis Obispo, California.