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Cerberus Capital Management has closed its largest-ever global opportunistic real estate fund, through which it can invest in European property debt, according to Real Estate Capital's sister publication, PERE.
The Korean institutional investors have shown growing interest in the distressed real estate market in Europe.
New York-based investment firm Cerberus Capital Management (Cerberus) has announced the hire of David Abrams from Apollo Management.
The parliamentary committee charged with scrutinising the activities of the UK Treasury has raised concerns over the sale of a £13bn residential mortgage portfolio to Cerberus Capital Management in November.
Cerberus Capital Management has won NAMA’s €6.25bn Project Arrow portfolio of real estate loans for around €800m. The US investor saw off Apollo Global Management for the portfolio, which NAMA, Ireland’s bad bank, acquired in 2010 and 2011.
Cerberus Capital Management has bought a portfolio of mainly non-performing commercial property loans valued at almost €390m from Dutch bank Van Lanschot. Cerberus is believed to have paid around €260m for the portfolio, or 66% of the face value of the portfolio.
The Royal Bank of Scotland (RBS) has disposed of £1.7bn of real estate loans made by its Irish subsidiary Ulster Bank. Deutsche Bank and Apollo Global Management have jointly bought a commercial real estate loan book for £400m.
Major investors holding out on investments until November’s general election are causing an outcry from certain Spanish investment agents.
Sankaty Advisors and Cerberus Capital Management have won Royal Bank of Scotland’s last two portfolios of distressed Irish commercial property loans. Cerberus has bought the Project Rathlin portfolio of RBS's subsidiary Ulster Bank's loans in Northern Ireland for £205m and Sankaty has won its bid for Project Coney, a bundle of loans with an outstanding balance of €465m.
Citi has financed the purchase of a £1bn non-performing loan portfolio for Cerberus Capital Management, Real Estate Capital can reveal.

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