Kennedy Wilson Europe Real Estate has secured a new €264m facility from the Bank of Ireland to finance a portfolio of assets in Ireland, the company revealed as part of its first full annual results this morning.
Citi has financed the purchase of a £1bn non-performing loan portfolio for Cerberus Capital Management, Real Estate Capital can reveal.
British Land has put in place a new £485m revolving credit facility at a margin of only 90bps.
BL logo croppedThe unsecured facility is the lowest arranged in the UK by a listed real estate firm this cycle and is a reduction of 25bps on the facilities it is replacing. The margin beats the previous lowest of 105bps, arranged by Great Portland Estates in October last year
A Qatari investment firm has received a $275m loan for its $513m purchase of The Manhattan at Times Square Hotel, city property records show.
The buyer is Al Rayyan Tourism and Investment (ARTIC), the international hospitality subsidiary of Al Faisal Holding Company, which also owns the Radisson Blu Chicago and the St. Regis Bal Harbour Resort in Miami Beach, Florida.
Prestbury Investments has appointed advisers to refinance the portfolio of Secure Income REIT ahead of a sale of the the REIT’s famous Madame Tussauds waxwork tourist attraction, Real Estate Capital can reveal.
Lyon Communities has received $167m in Freddie Mac financing for two recently-constructed, Class A multi-housing communities in Southern California. An $88m loan backs The Marke in Santa Ana, and a $79m loan backs Palomar Station in San Marcos. Both 10-year loans carry a 3.32% fixed-rate and were financed through Freddie Mac’s premiere lease-up program, which […]
Mesa West Capital has provided a $68m loan to Prudential Real Estate Investors and GlenStar Properties for the acquisition and repositioning of 311 West Monroe in downtown Chicago, Illinois.
The financing follows a $220m loan Mesa West provided to Sterling Bay and a $48m loan to Laurus Corporation. Mesa West’s loans are typically five-year floaters.
Trepp predicts $36bn of issuance for US commercial mortgage backed securities this quarter, which would be the greatest dollar volume for any quarter since the market peak, Real Estate Capital has learned.
The research and data firm’s prediction trounces last year’s first quarter, which logged just $16bn in issuance and, at such a pace, could result in some $144bn in total issuance for the year.
That figure would stretch well beyond last year’s $94.1bn and supersede what most industry insiders were predicting up until this point.
Kennedy Wilson and Fairfax have refinanced The Rock in Bury, once estimated to be worth more than £270m, with a new loan valuing the shopping centre at £88m.
Laurus Corporation has received $48m in loans for the acquisition and repositioning of an office building at 199 South Los Robles in Pasadena, California, Real Estate Capital has learned.
Los Angeles-based Mesa West Capital provided a $39m, five-year, floating-rate loan, and Karlin Real Estate, also based in Los Angeles, provided a $9m mezzanine loan.