Jane Roberts
Natixis has underwritten a term loan and revolving bridge facility totaling €154 million for CBRE Global Investors’ European Industrial Fund (EIF).
The French bank structured and arranged a seven-year, €123.7 million term loan, bringing in AXA to take 50 percent of the debt.
Bank of America Merrill Lynch has sold the first CMBS of 2016, with the AAAs pricing tighter than the bank’s initial guidance.
The bank sold the €141.6 million AAA tranche at a 130 basis points margin over three-month Euribor, which was tighter than its indicative pricing of 140-150 bps released on 7 March.
Berlin Hyp became the second German pfandbrief bank to say that profits are likely to be lower this year than last when it unveiled results on 16 March.
The bank posted a rise in 2015 profits before tax and transfer to shareholders, from €65.8 million to €93 million, after recording €5.4 billion of new business volume.
Perella Weinberg has raised finance from two German banks for development of Frankfurt’s Marieninsel office complex.
Pbb Deutsche Pfandbriefbank and Deutsche Hypo will provide €267 million for the development of two buildings totaling 57,000 sq metres in the centre of the city.
At MIPIM in Cannes this morning Cushman & Wakefield predicted that global trading volumes will rise 4 percent this year, adding that this base case “could easily be bettered if current global volatility levels stabilise or decline.”
NAMA will redeem another €2.5 billion of senior bonds this week, bringing to €24.6 billion the amount of senior debt the bad bank has repaid.
Helaba has made a new appointment in its origination team in the German bank’s Paris office.
Anne Sophie Chaffard started this week as a senior director of real estate, reporting to the branch head, Renaud Jezequel.
AEW Europe has completed a €420 million refinancing of the French assets in its €2 billion pan-European Logistis fund with ING Real Estate Finance.
Just three weeks into the campaign leading up to the 23 June referendum which will decide whether or not the UK is headed for Brexit, it’s clear that the uncertainty is already affecting UK real estate lending.
Alpha Plus, the private schools group advised by Delancey, has launched a retail bond with a 5% coupon in the first issue backed by property for more than two and a half years.
There has been no new retail bond backed by real estate since July 2013, when Bruntwood Investments, the Manchester-based private property company, raised £50 million.