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Brookfield Property Partners has put part of its logistics platform IDI Gazeley up for sale, alongside efforts to refinance the business.
Brookfield Property Partners is seeking a major refinancing of its $3.5 billion logistics platform IDI Gazeley ahead of a potential sale.
Canadian real estate investor Brookfield has priced a £215 million senior secured bond in the first publicly-traded deal in the European CMBS market in 2017.
State Bank of India (SBI) has signed a Memorandum of Understanding with Brookfield Asset Management, Canada’s largest alternative asset manager, to invest in stressed assets in India.
A club of six international banks has agreed to provide around £500 million of development funding for Brookfield Property Partners’ 100 Bishopsgate tower in a major post-Brexit City of London financing.
German bank LBBW is to finance Brookfield and China Life’s acquisition of the Aldgate Tower office building on the eastern fringes of the City of London.
Pricoa Mortgage Capital has provided a £181.5m, 10-year refinancing loan to China Life and the Qatar Investment Authority for their 99 Bishopsgate tower in London.
Brookfield Asset Management has placed a $240m construction loan on 180 Water Street in Downtown Manhattan, where Emmes Asset Management is converting a 25-story, 476,000 sq ft office building into a multifamily residential property. Brookfield will reportedly syndicate the loan and retain a mezzanine portion. Emmes paid $151m for the property in July of 2013 backed by a $90m loan from Bank of America.
Teacher Retirement System of Texas has reportedly approved more than $1bn of new commitments to commercial real estate vehicles investing in value-add and other opportunistic strategies, including distressed loans. TexasThe pension is investing $300m each into Blackstone Real Estate Partners VIII and a fund managed by Lone Star Funds; $270m to Akard Street Industrial; and $200m to Brookfield Strategic Real Estate Partners II.
A consortium of banks is providing $1.25bn in financing to Brookfield Property Partners for the development of a 2.1m sq ft office tower at Manhattan West. Wells Fargo, Deutsche Bank, Bank of New York Mellon and Toronto-Dominion Bank are co-leading the $1.25bn construction financing, which combined with a $850m equity contribution from Brookfield brings the office tower’s total cost to $2.1bn.
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