Bank of America Merrill Lynch (BAML) has priced its reduced €145.8m, four-and-a-half year Taurus 2015-3 EU DAC CMBS at a blended coupon of 280bps after discounting the deal. The transaction is a securitisation of two loans made to MStar Europe, a joint venture between M7 Real Estate and Starwood Capital, secured on 62 light industrial assets in the Netherlands, France and Germany.
The transaction is a securitisation of two loans made to MStar Europe, a joint venture between M7 Real Estate and Starwood Capital, secured on 60 light industrial assets located across the Netherlands, France and Germany.
Pricoa Mortgage Capital has provided a £155m, long-term loan to Enddora Holdings and Birchal Limited Partnership to partially refinance a portfolio of Access Self Storage properties. The fixed rate loan, with a term of more than 10 years, will be allocated across properties in Greater London, the Midlands and the South of England.
Lloyds Commercial Real Estate has provided a £147.5m, five-year whole loan to Bank of Montreal (BMO) Real Estate Partners, formally known as F&C REIT, for the purchase of Parkgate retail park in South Yorkshire. The facility reflects a loan-to-value of 85% on the purchase price of £175m, which BMO paid to Hercules Unit Trust in August.
Urban Exposure is looking to expand its lending team as it closes in on its first residential development loan for its new £2bn joint venture with hedge fund EJF Capital. The specialist lender is hunting for up to three extra staff to join its 15-strong team as it moves to deploy the capital brought into its new Urban Exposure Finance Limited business.
The Royal Bank of Scotland (RBS) has provided a £30m, floating rate term loan and a £60m revolving credit facility, both for five-years, to refinance Legal & General (L&G) Property’s leisure fund. L&G Investment Management is also providing a £60m, five-year term loan, initially floating rate but fixed from Q4 2016, taking the total facility to £150m at an all-in cost below 2.7%.
Canada Life Investments has poached three new staff, Real Estate Capital can reveal, from Nationwide Building Society, Bank of America Merrill Lynch and Hatfield Philips International as it looks to boost its London-based property lending business.
Jones Lang LaSalle (JLL) has appointed Erik Jacobs to its Capital Markets Hotels & Hospitality Group as it expands its lending advisory business across Europe.
Jacobs will be cover hotel transactions across the EMEA region from a debt and equity perspective.
pbb Deutsche Pfandbriefbank has provided a SEK 275.5m (€29m) facility to Standard Life Investments' European Real Estate Club fund for the acquisition of a retail park in in Sweden.
The five-year loan will finance the purchase of the 33,400 sq m Länna Retail Park, located just south of Stockholm, from German real estate company IVG.
pbb Deutsche Pfandbriefbank has provided a €110m, long-term refinancing facility to the Marc Asbeck family for a portfolio of office assets located in Bonn, Germany.
The portfolio consists of seven buildings in the prime office location of Bundesviertel, or government quarter. The offices are fully occupied by tenants such as Deutsche Post.
Cityhold Office Partnership has secured a €231m, 18-month refinancing facility from ING Real Estate Finance for part of its €2.2bn office portfolio.
The joint venture, formed in September by US teachers' pension fund TIAA-CREF and Swedish National Pension Fund's AP1 and AP2 funds, targets pan-European offices. It is advised by TH Real Estate, which is owned by TIAA-CREF.