David Hatcher
Pbb Deutsche Pfandbriefbank has provided a circa £70m loan to Delin Capital Asset Management secured on a portfolio of eight UK logistics facilities. The assets, totaling 1.77m sq ft, and are held in its Delin’s €400m Capital Preservation Portfolio I fund, which was launched in October 2012. The five-year facility will allow the fund to […]
Colony Capital has provided a €40.4m facility to Dolphin Capital Investors, a residential resort developer in emerging market. The Los Angeles-based private equity firm has entered an agreement with Dolphin Capital for a six year facility that has a fixed 11% rate. On top of this, Colony will receive income from its Amanzoe development near […]
One of the senior figures in real estate workout in Lloyds Banking Group’s business support unit has left the bank to set up his own business, Real Estate Capital can reveal. Andrew Wilson, head of the real estate solutions team, has departed from the UK bank and is understood to be establishing a new business […]
The £750m proposed agency CMBS to refinance Westfield’s Stratford City shopping centre in London has been pulled amidst uncertainty over ‘skin-in-the-game’ regulations. Westfield, advised by its banking partners Deutsche Bank and Crédit Agricole, had decided not to retain 5% of the notes, the so-called ‘skin-in-the-game’ designed to regulate arranging banks and align their interests with […]
Guggenheim Partners is to provide a loan of just under £130m to finance the redevelopment of one of the most important landmarks of the London 2012 Olympic Games.
The refinancing prospects of the UK’s €58bn of outstanding CMBS loans “remain challenging” according to ratings agency Standard & Poor’s. S&P warned in its latest CMBS bulletin covering the second quarter of the year that the disparity between prime and secondary property yields could result in “repercussions for refinancing European CMBS loans, many of which […]
Westfield’s £750m CMBS has been priced at 87-90 basis points by investment banks Deutsche Bank and Crédit Agricole. As revealed by Real Estate Capital (28.7.2014) it is to be the lowest priced CMBS issued since the downturn. Westfield Stratford City Finance, a single-tranche deal, has been AAA rated by both DBRS and Fitch Ratings. The new […]
Urban Exposure has pulled its £500m London Stock Exchange float citing “the prevailing IPO backdrop”. The vehicle that was to be known as Urban Exposure Real Estate had planned to use the equity to issue loans for residential development in the capital and announced its intention to float at the start of July. It said […]
M&G Investments has provided £40m of long-term finance to Merseyside housing association One Vision Housing. The 30-yearloan will allow One Vision to refinance existing bank debt held. It will is held against an element of its 11,500 portfolio and will allow the housing association to undertake new development. M&G now has a book of £4bn through […]
Canada Life Investments has upped its total lending to the Property Income Trust for Charities (PITCH) fund to £50m. The annuity lender has provided the fund, managed by Mayfair Capital Investment Management, with a new £24m, seven-year facility to refinance a 13-asset portfolio with a mixture of office, retail and industrial assets across the UK. The […]