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DekaBank has provided £100m of refinancing for 90 Long Acre, an office building in Covent Garden, London. US private equity firm Northwood Investors paid circa £165m for the 194,000 sq ft building with existing debt of £121.5m in place last May. The loan associated with the asset was part of a wider securitisation – Lehman […]
Prudential Mortgage Capital Company has provided $131.7m in first mortgages to refinance a Lock Up/Evergreen Storage portfolio of 18 US properties. The financing is comprised of a $20m, seven-year, floating rate tranche, and a $111.7m, 10-year, fixed rate tranche. Prudential said that the post-recession shift in housing demand from owning to renting continues to drive its faith […]
AgFe, the debt asset management firm, has raised £1.4bn of capital for investment in senior commercial mortgages in two new UK funds and is on course to raise £2bn. Retirement specialist LV= has mandated AgFe to invest up to £1bn into investment grade mortgages over the next four years in the friendly society’s first move […]
Dutch financial group ING has launched a debt investment service to build bespoke portfolios of commercial real estate loans for institutional investors. “This new and unique proposition allows ING REF to leverage its origination and lending capabilities to bridge the gap in the market between capital providers looking for attractive spread products, and real estate […]
Barclays has provided financing at a margin as tight as 175 basis points for low leverage on “good quality kit” for its long-standing client, Tritax. The bank has issued three separate loans totalling £85m for Tritax’s new REIT, Tritax Big Box REIT, listed last December, to re-gear the purchase of UK distribution centres in the East […]
ING Bank has provided €120m of finance for Round Hill Capital’s purchase of the largest Dutch residential portfolio to trade since the financial crisis. The five-year debt reflects a loan-to-value ratio of 66%. ING has syndicated some of the debt to two non-Dutch insitutional players. Round Hill has acquired 1,534 units spanning 140,000 sq m for […]
Legal & General has provided its second loan to the social housing sector this year – a £50m facility to support Housing Solutions’ six-year pipeline of 1,600 affordable homes across the South East. The 40-year debt reflects an all-in cost of sub 5%. Typical loan asset cover levels in the sector are around 105%. L&G’s […]