In the second of three installments, Real Estate Capital examines the leading lenders in Europe today.
Intu Properties has sourced a £488 million (€536 million) loan to refinance the Merry Hill shopping centre in Dudley, which is claimed to be the seventh largest mall in the UK.
Wells Fargo has provided a £151 million loan to Oxenwood Real Estate to support the £286 million purchase of a portfolio of prime UK logistics assets.
Capital & Regional has refinanced the debt held against its UK shopping centre portfolio with three new loan facilities totalling £372.5 million (€438 million).
Wells Fargo has provided a £50 million term loan to listed UK logistics investor Tritax Big Box REIT.
Quintain has closed an £800 million corporate development facility with three North American lenders, securing finance for the next five years for the development of its masterplan at Wembley Park in north London.
The facility is split into a £560 million, five-year revolving senior loan which has been provided by Wells Fargo and US insurer AIG, and £240 million of mezzanine from Canadian Pension Plan Investment Board.
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.
Wells Fargo is administrative agent on a $1.5 billion construction loan to SL Green Realty on its One Vanderbilt office development, which will become the tallest building in Midtown Manhattan.
Wells Fargo has teamed up with an undisclosed life insurance company to provide a $210 million financing to Westwood Financial Corporation on its 10-property retail portfolio across five states.
Wells Fargo has provided a $145 million agency financing to the Brodsky Organization on the 430-unit Enclave at the Cathedral apartment building in the Morningside Heights neighborhood of Manhattan.