Aviva Investors Real Estate Finance as provided a £120m, 20-year loan to London specialist property firm Shaftesbury to refinance a portfolio of retail, office and residential assets. The new fixed-rate facility will be allocated across assets in Shaftesbury’s Carnaby Street estate. It follows a £130m, 15-year loan from Aviva Investors in March, also secured on […]
Real estate investment trust The Macerich Company is seeking to replace or refinance hundreds-of-millions of dollars worth of debt collateralized by five US malls tied to the $2.3bn selloff of minority interests in eight total malls.
Proceeds from the sale of assets in the heavily defaulted £850m Gemini CMBS should be classified as principal and not interest, the High Court in London has ruled.
The decision means that under the deal’s contract only the Class A noteholders should receive payments from any asset sales. Had the court ruled sale proceeds as interest, then the junior noteholders, classes B to E, would also be eligible for payments.
Improving industrial performance in the US could result in the sector becoming a larger part of commercial real estate lending through the CMBS markets, according to a new report from data and research firm Trepp.
Apollo Global Management’s mid-cap lending business has bought a $3.6bn portfolio of corporate and real estate loans from Mubadala GE Capital (MGEC).
MidCap Financial, which provides debt to businesses across all industries and currently manages around $3.3bn, said it expected the deal to close in Q4 2015.
Vornado Realty Trust has upsized the existing loan on its 220 Central Park South development to $950m after terminating plans for a separate mezzanine loan.
The European Commission (EC) has launched its Capital Markets Union Action Plan, which could have far-reaching consequences for real estate finance and securitisation.
The five-year programme outlines the EC’s plans to build a single market for capital across all 28 EU member states and will see a raft of news rules introduced affecting sectors such as securitisation, infrastructure investment, and covered bonds.
Wells Fargo has provided a $98.1m loan to Friedland Properties for a residential development project on the Upper West Side of Manhattan at 2234 Broadway, Real Estate Capital has learned based on city property records.
Bank of Ozarks has led the financing of a $125m mixed-use development project in Houston, Texas.
German banks Berlin Hyp and pbb Deutsch Pfandbriefbank have provided €173m in total for the acquisition and development of logistics and retail assets in France.
pbb has supplied an €87m, five-year facitlity to a joint venture between McArthurGlen Designer Outlet and retail developer Simon Property Group.