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
JANE ROBERTS Lloyds makes a bigger splash as debt tide shows signs of turning
The Commercial Real Estate Finance Council Europe has formed a European lender committee to produce lending market standard principles for property finance, chaired by BNP Paribas head of real estate finance Peter Denton. The group will circulate draft guidelines to CREFC members in the next two weeks, before releasing them to the market. The investor […]