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Pricoa Mortgage Capital has provided a £155m, long-term loan to Enddora Holdings and Birchal Limited Partnership to partially refinance a portfolio of Access Self Storage properties. The fixed rate loan, with a term of more than 10 years, will be allocated across properties in Greater London, the Midlands and the South of England.
Lloyds Commercial Real Estate has provided a £147.5m, five-year whole loan to Bank of Montreal (BMO) Real Estate Partners, formally known as F&C REIT, for the purchase of Parkgate retail park in South Yorkshire. The facility reflects a loan-to-value of 85% on the purchase price of £175m, which BMO paid to Hercules Unit Trust in August.
Prudential Real Estate Investors (PREI) has acquired a 10-story office property in the East End of Washington, DC, for a reported $318m, assuming with it a $117m loan originated by TIAA-CREF.
Two of the largest institutional single-family landlords, Colony American Homes and Starwood Waypoint Residential Trust, are merging.
Urban Exposure is looking to expand its lending team as it closes in on its first residential development loan for its new £2bn joint venture with hedge fund EJF Capital. The specialist lender is hunting for up to three extra staff to join its 15-strong team as it moves to deploy the capital brought into its new Urban Exposure Finance Limited business.
New York-based real estate firm Madison Realty Capital has provided first and second mortgage financing totalling about $124m for the acquisition and future renovation of a 15-building, 175,000 square foot portfolio of residential and mixed-use properties in the East Village, according to Real Estate Capital's sister publication Private Debt Investor.
The Royal Bank of Scotland (RBS) has provided a £30m, floating rate term loan and a £60m revolving credit facility, both for five-years, to refinance Legal & General (L&G) Property’s leisure fund. L&G Investment Management is also providing a £60m, five-year term loan, initially floating rate but fixed from Q4 2016, taking the total facility to £150m at an all-in cost below 2.7%.
Canada Life Investments has poached three new staff, Real Estate Capital can reveal, from Nationwide Building Society, Bank of America Merrill Lynch and Hatfield Philips International as it looks to boost its London-based property lending business.
Seven loans from a JP Morgan CMBS deal from 2006 have been liquidated, amounting to more than $82m in write-offs, according to data from research firm Trepp.
pbb Deutsche Pfandbriefbank has provided a €110m, long-term refinancing facility to the Marc Asbeck family for a portfolio of office assets located in Bonn, Germany. The portfolio consists of seven buildings in the prime office location of Bundesviertel, or government quarter. The offices are fully occupied by tenants such as Deutsche Post.
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