David Hatcher
Citi has financed Blackstone’s latest round of Continental purchases for its logistics platform, Logicor. The bank has provided a five-year loan of €285m to fund thepurchase of 17 assets from SEB, bought for €270m in July, and six Spanish assets that were bought from Gran Europa for €130m in August. The deal reflects a loan-to-value […]
Clarence Dixon, CBRE’s chief operating office of its Debt Services division, has been promoted to global head of loan servicing. In his new role he will continue to oversee loan servicing in Europe but also become active in the US, joining the board of CBRE’s North American servicing platform, GEMSA and help set up a […]
Lloyds Banking Group is shaking up its real estate lending operation and has appointed John Feeney to lead an expansion of the bank’s property business. Lloyds told staff this morning that it is to streamline two of the three property divisions at the bank. The change will see Feeney take over responsibility for all real […]
Richard Dakin, the man behind Lloyds Banking Group’s post-crisis property deleveraging drive, is to leave the bank in November. Under his leadership as head of corporate real estate business support unit and non-core Lloyds has recouped £24bn of value from real estate since the start of 2009. The “bad book” has decreased in size from […]
ING has financed Bayside Capital’s €70m purchase of a Dutch portfolio from IVG. Bayside, a credit affiliate of HIG Capital, has bought six office buildings and one shopping centre from IVG’s institutional fund management business. The portfolio totals 52,000 sq m. The five-year loan of around €45m reflects a loan-to-value of 65% with a margin […]
Margins for German property loans will fall and loan-to-value ratios will rise says the forecast for this year and next in the second annual survey of German commercial real estate lending by the International Real Estate Business School, part of the University of Regensburg. The forecast is in contrast to the position last year. Across […]
Wells Fargo has refinanced Intu’s 50% share in the St David’s Shopping Centre in Cardiff. The deal is part of a continued drive by the retail specialist to drive down its cost of finance and take advantage of the buoyant debt market. The seven-year facility is split between a £122.5m term loan and a £40.7m […]
A club of four banks has agreed to refinance the entire 750,000 sq ft retail, leisure and parking portfolio of the Canary Wharf Group, Real Estate Capital can reveal. Lloyds Banking Group, Wells Fargo, Barclays and HSBC have jointly agreed to provide a facility of £600m. The five-year loan has been agreed at a margin […]
The eight partners of UK property financing business ICG-Longbow could receive up to £37m from the sale of their remaining 49% stake to parent ICG. The sale, led by founders Kevin Cooper and Martin Wheeler (pictured), is due to complete in October, three and a half years after they sold a 51% stake to quoted specialist […]
Deutsche Bank has launched the first CMBS in the Netherlands and the first to more than one borrower to be structured this cycle. The DECO 2014 TULIP CMBS is made up of two loans made by the German bank: one to PPF Real Estate Holding and the other to a joint venture between Mount Kellett […]