David Hatcher
Urban Exposure is nearing a closing for a private debt fund of around £450m, following its pulled initial public offering in July. The London and south east residential lending specialist cited “the prevailing IPO backdrop” as its reason for aborting its flotation, but Real Estate Capital understands that the targeted investors instead showed a strong […]
With backing from giant Canadian pension fund OMERS, Oxford Properties seems to be a property company with no great need to run to banks to finance deals. OMERS is due to grow to C$100bn (£55bn) in 2018, so its biggest problem is knowing how and where to allocate its capital. However, Oxford receives its equity […]
CREFC Europe is organising a seminar focused on interest rate hedging as the prospect of a hike becomes increasingly more likely.
A trio of banks have supplied Kennedy Wilson Europe Real Estate with £225m, in the listed investor’s first corporate debt facility. Bank of America Merrill Lynch, Deutsche Bank and JP Morgan have put in place a three-year, unsecured, floating rate revolving facility of up to £225m. The company intends to use the funds for general […]
The Commercial Real Estate Finance Council Europe (CREFC) has submitted its response to the Bank of England’s discussion paper examining the availability of credit data in the UK Headed by chief executive Peter Cosmetatos, CREFC’s response advocates establishing a loan database for commercial real estate financings and suggests that this resource should use CREFC’s European […]
Point Park Properties (P3) has sealed a €380m financing for its purchase of a 627,000 sq m logistics portfolio in Czech Republic in a new benchmark deal for the cycle in Eastern Europe. A club of three Czech banks fought off competition from German rivals to secure the mandate which is one of the largest and most competitively […]
The owners of The Savoy have completed a £300m refinancing of the famous London hotel by selecting a private equity investor to provide £100m of mezzanine debt, Real Estate Capital can reveal. Apollo Global Management won the mandate to make the mezzanine loan, which has been priced at an internal rate of return slightly higher […]
TIAA Henderson Real Estate has refinanced an Austrian shopping centre in its €1.5bn European Outlet Mall Fund and plans to refinance three more of the malls by the end of the year. Deutsche Pfandbriefbank, one of the two previous funders, issued a new €54.7m loan to refinance the fund’s centre in Parndorf, Austria. The five-year […]
Citibank has syndicated around £235m of the £300m loan it issued against Ares and Delancey’s Walbrook Building in the City of London in May, Real Estate Capital can reveal. The deal is a sign of the enormous appetite for debt that is being sold down by large banks with the ability to issue big ticket, […]
A German pension fund has made another large investment in debt, providing €450m for the refinancing of Mall of Berlin in the German capital. Bayerische Versorgungskammer (BVK) contributed the senior portion of a larger €600m refinancing of the new shopping centre, which saw Deutsche Hypo take a subordinate tranche of €80m and two credit funds of BNP […]