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Citi and Morgan Stanley have syndicated £1 billion of the jumbo loan they made to Lone Star for the £2.3 billion acquisition of the Project Churchill loan portfolio, Real Estate Capital has learned.
Aviva Investors is expanding its real estate debt offering onto the Continent with a mandate from Aviva France and a new appointment to lead the business, Real Estate Capital can reveal. Romain Linot, who comes from a senior fund manager's role at AXA commercial real estate, will head the new debt team from Paris and begins this week.
Citi and Morgan Stanley are financing Lone Star's £2.2bn purchase of Aviva's Project Churchill, which comprises a portfolio of loans and real estate assets valued at around £2.4bn. The two banks are reported to be in the deal for an equal share of up to £1.5bn of financing to Lone Star, who saw off Apollo Global Management and Cerberus Capital Management to win the portfolio. Both banks are expected to syndicate their loans.
Criterion Capital is planning to deploy up to £500m into London’s private rented sector (PRS) market after refinancing £936m of debt with Aviva. The London-based property company, headed by Asif Aziz, carried out one of the largest refinancing deals this cycle when it secured long-term loans on 35- and 50-year ‘gilt based’ terms.
Aviva Commercial Finance has provided Griffen UK Logistics Fund (GULF) with a loan package totalling £94.6m. The loans are mostly for five years with a proportion on a floating rate. They are secured by a portfolio of 22 UK regional warehouses, mainly in the West Midlands.
Aviva Investors real estate multi-manager has invested in TH Real Estate’s debut property debt fund, the UK Enhanced Debt fund.
Aviva Commercial Finance has launched a recruitment drive as it seeks to expand its £13bn real estate lending book, Real Estate Capital can reveal.
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