Mike Dunn, St Modwen Properties’ group finance director, is to leave the company. Dunn is to leave the listed UK regeneration specialist in order to spend more time with his family. He is to remain with the company until 31 May or earlier if mutually agreed to ensure an orderly transition and at that point […]
McCarthy & Stone has agreed a new £200m bank facility with four banks.
Barclays, HSBC, Royal Bank of Scotland and Santander hasveprovided a five-year loan for the retirement housing specialist.
Aviva Commercial Real Estate Finance has sold a distressed UK portfolio for £503m to Kennedy Wilson Europe Real Estate.
The insurer has also provided £352.3m of staple finance, reflecting a loan-to-value of 70%. The senior debt facility has been split into a three-year floating rate loan (33%), a five-year fixed rate loan (20%) and an eight-year fixed rate loan (47%). The facility has a weighted average margin of 206 bps and has the flexibility to substitute properties over the life of the loans, based on the acquisition purchase price.
Helical Bar has secured an £81m debt facility from Aviva Commercial Finance to refinance a trio of assets in the UK.
The 10-year loan allows for drawdowns of up to 63% of value and have a fixed interest rate of 2.48%. The assets are two office buildings in London – the 150,000 sq ft Shepherd’s Building in Shepherd’s Bush and the 35,000 sq ft One King Street in Hammersmith - as well as a retail asset within its 250,000 sq ft Morgan Quarter in Cardiff.
Spare an unforeseen rally, it’s looking like the year-end US CMBS issuance tally will fall short of the triple-digit billions number many had predicted, anticipated and/or hoped for. As of today, there was $87bn of CMBS issuance, according to TREPP.
TIAA Henderson Real Estate and its joint venture partner Madison Realty has refinanced The Houndsditch Estate in the City of London with a new £120m debt facility.
ING and Santander jointly provided the five-year loan. The finance reflects a loan-to-value of 60% on its £200m value.
Blackstone Mortgage Trust (BXMT) has provided a $210.7m floating-rate loan to Banyan Street Capital and Oaktree Capital Management for the acquisition of a 19-building suburban office building portfolio located across six US states.
The loan helps to fund the $237m acquisition as well as additional capital expenditures and leasing costs associated with the properties.
Royal Bank of Scotland is being sued in the High Court for an alleged breach of a loan agreement involving one of the highest profile residential developments to fall victim to the downturn, Real Estate Capital can reveal.
John Morris, the developer behind the luxury Charters scheme near Sunningdale, south west London, is suing RBS for reneging on an agreed banking facility to finance the final construction works at the site in September 2008.
Guggenheim Commercial Real Estate Finance has provided a first mortgage loan to Oxford Properties Group for one of five Boston office buildings the Canadian investment firm bought for $2.1bn earlier this year.
The $150m fixed-rate permanent financing of the 22-story office tower at 125 Summer Street was “very competitively priced given the strong sponsorship and the fresh equity” going into the property, Riaz Cassum, a senior managing director with the HFF debt team that placed the loan, told Real Estate Capital.
ING has lent TH Real Estate €85m to refinance a designer outlet mall in Italy
The five-year loan is secured against the fund manager’s Serravalle Designer Outlet, located just outside of Milan. The asset is Italy’s first and largest designer outlet, comprising over 38,000 sq m. It is owned by the €1.5bn European Outlet Mall Fund.