Sampension has appointed former Nordea chief dealer, Theis Nygaard, to the newly created-role of credit portfolio manager. The Danish pension fund manager made the move to bolster its lending experience as it plans to lend more on commercial real estate.
PNC Financial Services has provided a $93.5m first mortgage loan for the acquisition of the two-building Aventine office and retail complex in San Diego, California. The loan, which carries a loan-to-value ratio of about 62 percent, funds Massachusetts-based Rockpoint Group’s $150m acquisition from Blackstone. The 240,000 sq ft complex is made up of an office […]
Shares in newly-floated pbb Deutsche Pfandbriefbank started trading today at €11.45 each, a 6.5% premium over the €10.75 issue price.
Hypo Real Estate (HRE), pbb’s owner, along with the syndicate banks and Germany’s Federal Agency for Financial Market Stabilisation, had set the offer price yesterday at €10.75 each.
A $116.5m loan backing the Fair Lakes Office Park in Fairfax, Virginia has been sent to special servicing due to imminent monetary default, according to research and data firm Trepp.
Tritax Big Box REIT has financed its latest acquisition with Helaba, the third with the German bank.
The logistics specialist has expanded its pool of senior debt lenders to three banks after initially using only Barclays to fund its acquisitions and developments.
Almost all lenders expect new European originations to increase or remain stable in the next six months.
Some 91% of debt providers contacted by DTZ said their origination volumes will grow or remain the same in the six months to end of September 2015 compared to the previous six-month period. A similar proportion believe the same for refinancing as values continue to recover.
HSH Nordbank has provided an €82m facility to Orion Capital Managers for the purchase and refurbishment of the Lilien-Carré shopping centre in Wiesbaden, near Frankfurt, Germany.
Orion bought the retail outlet without third party financing in December last year through its European Real Estate Fund IV. A component of HSH Nordbank’s loan is pro-rated refinancing for the purchase.
Miami condo market has attracted $4.5bn in financing this cycle, $11bn last cycle.
Blackstone Group’s Invitation Homes business reportedly plans to sell off 5 percent of its existing portfolio per year going forward, starting with 1,300 Atlanta-area homes it has agreed to sell -- the largest bulk sale for the company yet.
Oaktree Capital Management and hedge fund Chenavari are buying three loan portfolios worth a total of €1.3bn from Spain’s Bankia.
The two investors have split Bankia’s €918m Portfolio Mast, which comprises of 4,300 unpaid residential mortgages with an average value of €214,000, made to individuals in Catalonia, Madrid and Valencia.