Deutsche Bank’s Spanish arm has completed the sale of a non-performing loan portfolio with a face value of €430 million, significantly reducing its non-core loan book in the country.
Despite challenging market conditions, a diverse array of organisations continues to provide finance to the European property sector. Real Estate Capital’s roll call of the most active lenders in European property finance today once again demonstrates the weight of capital available in the market.
Deutsche Bank provided a $62.5 million loan to Menlo Equities to refinance Irvine Crossings, a 395,673 sq ft, single-story datacenter and technology property in Irvine, California.
Deutsche Bank has provided $215 million in financing to McSam Hotel Group to refinance a hotel development on Manhattan’s west side, city property records show.
The bank provided the two-year interest-only loan with three one-year extensions to a partnership between American Realty Advisors and Onyx Equities. The partnership purchased the property for $101 million, bringing the loan LTV to 75 percent.
Deutsche Bank has elevated Werner Steinmueller as the bank’s chief executive officer (CEO) of Asia Pacific and as a member of the management board. It has also appointed John Gibbons as his successor as head of global transaction banking.
The financing went to Thor Equities which purchased the two office and retail properties from a joint venture between DDM Development and Communecon Group for a $75.5 million, city records show.
Deutsche Bank has added to its Spanish real estate debt exposure with the purchase of a portfolio of development loans with a face value of around €400 million.
UK regional mall owner Intu Properties has arranged a new bridging loan with its existing lenders for its £410 million acquisition of the remaining 50 percent of Merry Hill that it did not already own.
A consortium comprising Deutsche Bank, Bank of China and Singapore’s United Overseas Bank has provided development finance to support the £600 million redevelopment of 60 Curzon Street in London’s Mayfair area.