Ireland Strategic Investment Fund (ISIF) and KKR Credit have joined forces to establish a €500m lending vehicle that will finance house-building schemes in Ireland, the firms said in a joint statement.
ISIF backed Activate Capital with €325m, while KKR Credit invested the remaining €175m. ISIF was established in June 2013 to replace the National Pension Reserve Fund and the new joint venture is its largest investment to date.
Strategic Hotels & Resorts has acquired the remaining 49 percent ownership interest in the JW Marriott Essex House hotel from KSL Capital Partners for $84.6m in stock, assuming with the deal a $225m loan from MetLife that was used to refinance the property in December.
The centuries-old fine art auction house Sotheby’s has refinanced the 10-story property it headquarters and owns on Manhattan’s Upper East Side with a $325m loan from HSBC and the Industrial and Commercial Bank of China.
Prudential Mortgage Capital Company has provided a nearly $166m loan to Colony Capital to refinance a 25-property light industrial portfolio with buildings in Atlanta, Dallas, Denver, Houston and Minneapolis. The 10-year, fixed-rate loan backs 4m sq ft of space that is 97% leased to 69 tenants. The properties are made up mostly of distribution space and the […]
The European Commission (EC) will discuss its plan to relaunch the European securitisation market at a new event in London.
The Future of European Securitisation conference on November 11, organised by City & Financial Global, is expecting around 100 delegates from the financial services sector.
Goldman Sachs, CarVal and Bank of Ireland have bought a portfolio of Irish commercial loans from Lloyds Banking Group for £827m. The loans, made to small and medium sized businesses in Ireland, are mostly secured against commercial property.
Starwood Property Trust has provided Connecticut-based Wheelock Street Capital with $88.6m for the acquisition of Renaissance Las Vegas Hotel in Las Vegas, Nevada, Real Estate Capital has learned.
Lender appetite for risk has dropped sharply, as has optimism with respect to borrower demand, according to a new report from the Real Estate Lenders Association (RELA) and economist Sam Chandan.
Deutsche Asset & Wealth Management (Deutsche AWM) has provided a €36m facility to UBS Global Asset Management for its €70m purchase of Zielo Shopping Centre in Madrid.
The medium-term loan reflects a loan-to-value of just over 50% and is Deutsche AWM’s first debt investment outside Germany following the second close of its real estate senior debt fund.
Of the major property types, large floating rate loans (LLFs) issued between 2005 and 2007 and tied to hotel loans have been the worst hit, accounting for more than half of all losses, according to Fitch Ratings.