Barclays has provided financing at a margin as tight as 175 basis points for low leverage on “good quality kit” for its long-standing client, Tritax. The bank has issued three separate loans totalling £85m for Tritax’s new REIT, Tritax Big Box REIT, listed last December, to re-gear the purchase of UK distribution centres in the East […]
ING Bank has provided €120m of finance for Round Hill Capital’s purchase of the largest Dutch residential portfolio to trade since the financial crisis. The five-year debt reflects a loan-to-value ratio of 66%. ING has syndicated some of the debt to two non-Dutch insitutional players. Round Hill has acquired 1,534 units spanning 140,000 sq m for […]
Legal & General has provided its second loan to the social housing sector this year – a £50m facility to support Housing Solutions’ six-year pipeline of 1,600 affordable homes across the South East. The 40-year debt reflects an all-in cost of sub 5%. Typical loan asset cover levels in the sector are around 105%. L&G’s […]
The UK lending market is “nowhere near dangerous territory” despite a record number of new entrants driving down margins and the first signs of loan to value ratios rising. In his annual Financing Property presentation this morning, this year called ‘Growth is here. Are the foundations solid?’, William Newsom of Savills said that there are a further 52 […]
Lloyds Bank Commercial Banking’s property lending teams this year expect to top the £6.9bn they lent to the sector in 2013. Last year’s figure was the highest since 2007, with about £2.5bn lent by each of the mid-markets and global corporate divisions and close to £2bn by the small and medium-sized enterprises team. John Feeney, […]
Asian lenders power up Battersea Four Asian banks have under- written £790m of development finance for the Malaysian owner- developers of London’s Battersea Power Station site. Malaysia’s CIMB Bank and Overseas Chinese Banking Corporation, Singapore’s Maybank and Standard Chartered provided a 3.5-year facility for phase 1, including the power station refurbishment, and a five-year loan to […]
DRC’s European Real Estate Debt Fund ll seeks £400m from institutional investors, as managers plan a raft of follow-on mezzanine debt vehicles