Private real estate debt funds August 2015 PERE Research and Analytics’ monitoring shows 68 debt funds in the market this month, seeking a total of $33bn. These include one new global fund, Colony Capital’s Distressed Credit & Special Situations Fund IV, which is seeking $2.5bn. Atlanta-based Quadrant Real Estate Advisors has launched two funds, targeting […]
Citi and Morgan Stanley are financing Lone Star's £2.2bn purchase of Aviva's Project Churchill, which comprises a portfolio of loans and real estate assets valued at around £2.4bn.
The two banks are reported to be in the deal for an equal share of up to £1.5bn of financing to Lone Star, who saw off Apollo Global Management and Cerberus Capital Management to win the portfolio. Both banks are expected to syndicate their loans.
Topland Group provided more than £100m in bridging loans in the first half of 2015 driven by demand outside of London.
The London-based property investor said it is seeing a big increase in businesses and people seeking bridging loan funding for what they believe are better priced assets outside London.
Allianz Real Estate has made its first foray into Ireland with a €150m participation in a €300m Morgan Stanley acquisition loan to Starwood Property Trust.
The five-year, floating rate loan, with an LTV below 60%, is secured on 11 office buildings and one residential property, all in Dublin.
Bank of America Merrill Lynch has launched a €176.68m securitisation of two loans made to MStar Europe secured on industrial portfolios.
The four-and-a-half year Taurus 2015-3 EU DAC CMBS is secured on over 60 assets in three countries, the Netherlands, France and Germany. It is the third CMBS this year to cover multiple jurisdictions in a continuing evolution of the commercial real estate capital markets.
pbb Deutsche Pfandbriefbank has provided a €150m, three-year acquisition and development loan to die developer Projektentwicklung to build a 60m office tower in Düsseldorf, Germany.
The loan will finance the purchase of the site in the business area of Kennedydamm and the construction of the 16-storey office building scheduled for completion at the end of 2017.
Goldman Sachs has priced its restructured €182.25m REITALY CMBS at a blended coupon of 317.4bps.
The deal, a securitisation of a single €191.5m loan to Apollo Global Management for a portfolio of 25 Italian retail assets, was relaunched last week after being delayed in June.
Nordea Bank is funding Partners Group's purchase of a mixed-use portfolio valued at SEK 3.2bn (€336m) from Sveafastigheter.
The Nordic bank, based in Sweden, has provided senior financing for the deal which will see 32 assets in Sweden, Finland and Estonia change hands.
Clydesdale Bank has provided a £40m revolving credit facility to Stonewater housing association to build more affordable homes.
The loan, an extension of an existing Clydesdale loan with Jephson housing which merged with Raglan at the beginning of the year to form Stonewater, will help deliver 7000 new homes over 10 years.
Cornerstone Real Estate Advisers Europe has appointed Rachel Arden-Davis as its finance and operations director for pan-European funds.
Arden-Davis joins from AXA Real Estate, where she has spent 10 years rising to become senior fund controller. Prior to that, the chartered accountant spent eight years with PricewaterhouseCoopers, both in Frankfurt and London, where she managed transactions for private equity and corporate clients.