A raft of lending organisations are keen to provide finance to Europe's real estate investors. In the first of three installments, we examine the UK and German banks which made the list of Europe's top lenders.
NewRiver REIT has sourced £430 million (€473 million) of new unsecured debt facilities, which will replace £414 million of its existing secured loans.
Bank of China (Hong Kong), HSBC and ING Real Estate Finance have joined forces for a financing of Hong Kong investor CC Land Holdings’ £1.15 billion purchase of the ‘Cheesegrater’ building in the City of London.
Goldman Sachs, HSBC and Bank of America Merrill Lynch have provided a £400 million loan to English football club Tottenham Hotspur to fund the development of its new stadium in north London.
UK developer Essential Living has raised £60 million of development finance from Royal Bank of Scotland and HSBC for its Creekside Wharf residential scheme in London.
HSBC and the government’s Homes & Communities Agency are providing one of the largest loans this year for PRS development in UK regional cities.
HSBC has agreed an extension of two existing loans provided to subsidiaries of the UK’s Local Shopping REIT, which is subject to an ongoing wind-down strategy.
HSBC has provided a £100 million loan to finance a Hong Kong-based investor’s purchase the 20 Moorgate office building in the City of London.
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.
The proceeds will be used to refinance the trust's existing loan facility.