Quintain Estates & Developments has appointed Simon Carter as its new finance director.
He will take up the role at the listed investment and regeneration company from 26 May, leaving British Land where he is head of strategy and the member of executive committee.
The Securities and Exchange Commission is reportedly banning Standard & Poor’s Ratings Services from rating CMBS for an entire year as part of an SEC probe and subsequent $60m settlement with the ratings agency. The SEC’s investigation looked at whether S&P bent its criteria to win business on six CMBS deals issued in 2011, according […]
Thorofare Capital has funded loans totaling $29.2m for retail financings secured by shopping centers across the country, putting to work a new $400m investment vehicle the firm announced in September, Real Estate Capital has learned.
In the largest of the three financings, the Los Angeles-based firm funded a $13.5m bridge loan for the refinancing of Forum Center, a 140,000 sq ft shopping center in the Hurstbourne Parkway corridor of Louisville, Kentucky. The non-recourse financing carries an initial term of one-and-a-half years at LIBOR plus 680 basis points. The loan was funded through the new investment vehicle, which writes floating-rate senior loans on value-add opportunities.
Deutsche Asset & Wealth Management has raised a €500m senior debt fund for investment in the German market.
The product is an unusual one as the German lending market is ferociously competitive and traditionally provides margins that are too low for some investors.
Extra MSA Group has issued a £220m bond secured against nine of its UK motorway service assets
The Abraham portfolio has a current total annual net rental income of in excess of £23m. The bond has a 10-year term with a fixed annual coupon of less than 3.7%.
Deutsche Pfandbriefbank has provided La Française two loans totalling €79m to fund its acquisitions of two Paris office buildings.
Quantum Capital Partners has arranged $74.4m in loans on five Southern California properties, Real Estate Capital has learned.
The largest is a 10-year, $32m conduit loan secured by a 89,000 sq ft wholesale/retail showroom and parking garage in the Los Angeles Fashion District. The non-recourse loan carries a loan-to-value of 67% and was used to pay off a previous loan that Quantum arranged in 2012.
Bank of America Merrill Lynch has launched a €286.4m CMBS held against Italian assets owned by three private equity investors.
Assets owned by Blackstone, Cerberus Capital Management and Orion Capital Managers make up the collateral, each of which have entered the recovering market early in its cycle.
Kushner Companies and Extell Development Company have closed on two phases of financing totalling $129m for the Pier Village waterfront condominium development in Long Branch, New Jersey.
The joint venture acquired Pier Village for $180m in the last quarter of 2014, with plans to complete a long-stalled third phase of the project.
Macquarie has arranged the financing for LDC's £307m acquisition of the NEC Group from Birmingham City Council. LDC is Lloyd's regional mid-market private equity group.
Maquarie originated and structured the debt as a whole loan, which is being tranched and syndicated. Macquarie introduced RBS and two others to the syndicate pre-closing and will be keeping a significant holding until maturity in six and a half years. .