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.
Fitch has withdrawn its expected ratings and presale note from the Royal Bank of Scotland’s stalled £170m Antares 2015-1 CMBS deal, which looks increasingly unlikely to return to market. The transaction is the securitisation of a single loan to refinance Kennedy Wilson’s Jupiter portfolio of 17 UK office and retail assets.
A spate of assaults, robberies and other crimes that have raised safety concerns for residents living at the complex, near the neighboring Western Michigan University, contributing to a large appraisal reduction for the 256-unit multifamily property that is used in part for student housing.
pbb Deutsche Pfandbriefbank has provided a €138m loan to CBRE Global Investment Partners to buy a pan-European portfolio of logistics assets.
The five-year facility reflects a loan-to-value of about 40% on the €350m purchase price. CBRE GIP acquired the assets from existing clients of TH Real Estate.
Widening spreads in the European CMBS market are due to an oversupply of product and a lack of buying by the European Central Bank (ECB), an audience in London was told.
The last three CMBS deals have been disappointing for the issuing banks, Bank of America Merrill Lynch with €145.8m Taurus 2015-3 EU DAC, and Goldman Sachs
Deutsche Bank has provided $321m in financing to Beacon Capital Partners for a stake in MetLife’s 575 Fifth Avenue.
JP Morgan has provide a $177m construction loan for Samuels & Associates’ Pierce Boston, a 30-story, 420,000 sq ft mixed-use tower being developed in the Fenway neighborhood of Boston, Massachusetts.
Legal & General Property is expanding the debt facilities for two of its existing funds and looking for debt for a third vehicle, to raise £260m for further acquisitions, asset management and to cut borrowing costs, Real Estate Capital can reveal.
AIG Investments has provided JEMB Realty with a $50m loan to refinance 150 Broadway in Lower Manhattan, Real Estate Capital has learned based on city property records.