CaixaBank and ING have provided a total of €87.3m to Spanish REIT Lar Espana Real Estate for its purchase of the El Rosal shopping centre in Ponferrada, northwest Spain.
CaixaBank’s loan, which is the bulk of the total, is for 15-years.
Tritax Big Box REIT has financed its latest acquisition with Helaba, the third with the German bank.
The logistics specialist has expanded its pool of senior debt lenders to three banks after initially using only Barclays to fund its acquisitions and developments.
Almost all lenders expect new European originations to increase or remain stable in the next six months.
Some 91% of debt providers contacted by DTZ said their origination volumes will grow or remain the same in the six months to end of September 2015 compared to the previous six-month period. A similar proportion believe the same for refinancing as values continue to recover.
HSH Nordbank has provided an €82m facility to Orion Capital Managers for the purchase and refurbishment of the Lilien-Carré shopping centre in Wiesbaden, near Frankfurt, Germany.
Orion bought the retail outlet without third party financing in December last year through its European Real Estate Fund IV. A component of HSH Nordbank’s loan is pro-rated refinancing for the purchase.
Oaktree Capital Management and hedge fund Chenavari are buying three loan portfolios worth a total of €1.3bn from Spain’s Bankia.
The two investors have split Bankia’s €918m Portfolio Mast, which comprises of 4,300 unpaid residential mortgages with an average value of €214,000, made to individuals in Catalonia, Madrid and Valencia.
Rothesay Life, Legal & General and AIG are the frontrunners to lend close to £900m to Secure Income REIT so it can refinance the REIT's leisure and private hospital assets.
Rothesay is believed to have agreed a 10-year facility of at least £350m secured on SIR’s six leisure assets, which include Alton Towers theme park and Warwick Castle. L&G and AIG will lend at least £225m each for terms over 10 years to refinance the REIT's 20 private hospital assets.
Secure Trust Bank has launched a £100m fund to help developers convert commercial property into residential units.
The AIM-listed challenger bank said the fund was aimed at boosting the level of conversion development following the government’s £1bn brownfield regeneration fund launched in April.
pbb Deutsche Pfandbriefbank has financed Europa Capital’s €43m purchase of Hadovka Office Park in Prague, Czech Republic.
The German bank provided a senior loan to London-based fund manager Europa, which made the purchase through its Europa Fund IV.
Legal & General’s property lending business is planning to expand into advising third-party capital, Real Estate Capital reveals.
The three-year-old team, headed by Ashley Goldblatt, currently originates senior loans on behalf of Legal & General’s giant in-house annuity business.
Caerus Debt Investments has raised €395m in additional funds to lend on real estate, taking its total pool to deploy to €815m.
The Düsseldorf-based investment manager has secured an extra €345m for its whole loan fund and an additional €50m for its junior debt and mezzanine fund.