Domestic and German banks are bringing greater liquidity to the Netherlands real estate market, writes Daniel Cunningham.
LBBW’s London branch was behind a £210 million financing of the Aldgate Tower office building located on the eastern fringes of the City of London. The German bank provided the loan to Brookfield and China Life to fund the acquisition of the 317,000 square foot tower from Irish firm Aldgate Investments.
Bank of America Merrill Lynch (BAML) is marketing its second German CMBS deal of the year, in what would be Europe’s second public CMBS issue of 2016 so far.
Berlin Hyp has provided a €125 million loan to Gramercy Property Europe to fund the acquisition of a mixed-use commercial property portfolio located across the Netherlands, Germany and Poland.
ING Real Estate Finance and LBBW have jointly underwritten a £400 million refinancing of the City of London’s Salesforce Tower, the building formerly known as the Heron Tower.
Royal Bank of Scotland (RBS) has refinanced Standard Life Investments Property Holdings with a £145 million loan.
Peer-to-peer lender LendInvest has reported closing 14 real estate development finance deals ranging in size from £400,000 to £10 million during the first four months of its development lending strategy.
Berlin Hyp, which last year launched the first ‘Green Pfandbrief’, has allocated more than €1 billion of loans backing sustainable properties to the covered bond.
ICG-Longbow, the real estate debt business of Intermediate Capital Group (ICG), has completed the raising of £425 million from a single party to be invested in UK residential development loans.
DRC Capital has provided a £11.4 million loan to Essential Living, a London-based developer and operator of private rented sector residential property.