The European Banking Authority’s (EBA) proposed rules on slotting have come under fire from banking and real estate groups fearful of more onerous regulation.
The EBA wants to standardise the slotting regime across the EU and is proposing to specify what factors should be taken into account and how they should be combined to determine the appropriate risk weights of loans.
New York Life Insurance Company is backing Cornerstone Real Estate Advisers’ $270m acquisition of downtown Manhattan’s 100 Wall Street.
MassMutual has reportedly provided Corcoran Jennison Hospitality (CJH) with a $70m loan to refinance the DoubleTree by Hilton Boston in downtown Boston, Massachusetts.
Wells Fargo has provided an unsecured £75m revolving credit facility to Derwent London. The five-year facility can be extended by up to two years and can be increased by £25m during its term.
Maryland-based Corporate Office Properties Trust has purchased the 37-story Transamerica Tower at 100 Light Street for $121m, assuming with it $55m of debt provided by Northwestern Mutual.
Danish life insurance company Sampension has completed its first two direct commercial real estate debt deals totalling DKK 500m (€67m), as it embarks on a cost-cutting initiative aimed at minimising third-party fees, reports Real Estate Capital's sister publication, Private Debt Investor.
The two transactions have been made in Europe on a co-investment basis, said Kasper Ullegård, Sampension's head of fixed income.
The top of Seattle, Washington’s skyline now belongs to Gaw Capital Partners, the Hong Kong firm that reportedly closed on its $711m purchase of the 76-story Columbia Tower with $400m in acquisition financing from MetLife.
Barclays and Santander have provided a £120m financing package to Runwood Homes, secured on its portfolio of care homes and day care centres.
Barclays was the mandated lead arranger, lender and facility agent and provided £96m. Santander supplied the remaining £24m.
Three new cities representing traditionally smaller markets have jumped into the top five list of CMBS issuers during the first half of this year, knocking mainstay Chicago, Illinois off the list, among others.
In one of the largest transactions closed to date through CBRE Group’s Federal Housing Administration (FHA) lending platform, the firm has originated a $51m loan for the refinancing of The Meridian at Stanford Ranch, a luxury apartment complex in Rocklin, California, Real Estate Capital has learned.