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Brockton Capital has refinanced its UK retail parks portfolio with a new loan of around £190m, Real Estate Capital can reveal. It is understood that Aareal Bank has provided a five year facility that is held against a portfolio of eight parks. The parks are thought to be valued at around £300m, meaning a loan-to-value […]
JLL has recruited a new national director to establish a debt advisory business in Spain. Jorge Valenzuela Requena has been recruited from Hill International, the project and construction management business where he was business development director Requena’s role will be to help investors in the country to get the best possible financing terms and prepare […]
A bank has been chosen to refinance the iconic Savoy Hotel in London’s West End, Real Estate Capital can reveal. Deutsche Bank is understood to be the preferred party to lead the £300m refinancing, beating Citibank to the mandate. Eastdil Secured was appointed to search for a party to refinance the luxury hotel by its owners Saudi […]
MetLife has provided Shorenstein Properties with $170m to refinance the office building at 850 Third Avenue in Midtown Manhattan. The new three-year floating rate loan replaces a $180m loan Deutsche Bank provided in 2010, a person familiar with the deal said. The office complex, built in 1962, is located between 51st and 52nd Streets, on the east side […]
The European head of investment management at the world’s largest CMBS special servicer, LNR Partners, has left the business, Real Estate Capital can reveal. Derek Rich has left LNR by mutual consent following three years with the firm. He was responsible for all investment, advisory and real estate due diligence across LNR’s European business and […]
Oaktree Capital Management has chosen a financier to provide a whole loan for its £430m purchase of three regional UK business parks, Real Estate Capital can reveal. Barclays is to provide a whole loan of around £344m, reflecting an 80% loan-to-value to the private equity firm. Oaktree had been seeking a five-year loan with a […]
One of the senior figures in real estate workout in Lloyds Banking Group’s business support unit has left the bank to set up his own business, Real Estate Capital can reveal. Andrew Wilson, head of the real estate solutions team, has departed from the UK bank and is understood to be establishing a new business […]
Guggenheim Partners is to provide a loan of just under £130m to finance the redevelopment of one of the most important landmarks of the London 2012 Olympic Games.
Starwood Property Trust has provided a $480m construction loan to real estate developer Jay Paul Company for the construction of the tallest mixed-use tower on the West Coast of the United States. Plans for the property at 181 Fremont Street in San Francisco, California call for a 684,000-square-foot, 55-story class A office and luxury condominium […]
The refinancing prospects of the UK’s €58bn of outstanding CMBS loans “remain challenging” according to ratings agency Standard & Poor’s. S&P warned in its latest CMBS bulletin covering the second quarter of the year that the disparity between prime and secondary property yields could result in “repercussions for refinancing European CMBS loans, many of which […]
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