Jane Roberts
Fund raising for real estate debt funds has gathered pace since our last issue, with 136 debt funds in the market seeking $56.75bn in capital, compared with the 112 funds aiming to raise $44.5bn a month ago. This month’s data shows 56 Americas funds in the market and 40 European funds, with the rest having […]
Swedish debt fund Leimdörfer Real Estate Capital I has backed Revcap’s acquisition of two shopping centres in Stockholm.
CBRE Global Investors’ Dutch Residential Fund has signed a new €100 million revolving credit facility at a sub 150 basis points margin with Dutch banks ING and ABN Amro.
Neil Crosby, of Reading University, is advising the Bank of England on methods for calculating long-term sustainable value for use in UK lending.
Related Companies has made its first debt investment in the UK, taking a participation in the mezzanine tranche of Rocket Investments’ financing of the Atlas Building.
Rocket Investments put out a press release today saying it had sourced £240 million of senior and mezzanine development finance for Atlas, a 40-storey residential tower with 82,000 sq ft of offices and retail on City Road on the edge of the City of London.
Benson Elliot and two investing partners have financed the acquisition of four European hotels with €215 million of senior debt from Aareal Bank.
The private equity firm and its partners, Walton Street Capital and Algonquin, bought the assets in October from Host Hotels & Resorts as part of a €420 million deal involving eight hotels.
Irish REIT Hibernia has agreed a £400m revolving credit facility at close to 2% cost with three banks.
Bank of Ireland, Ulster Bank and Barclays are participating in the loan which Hibernia will use to replace an existing €100m RCF, to fund projects and make new acquisitions.
US debt fund manager Quadrant Real Estate Advisors has teamed up with Ireland’s new state-owned investment company to make development loans in Ireland.
The Irish state-backed Ireland Strategic Investment Fund (ISIF), which is controlled and managed by NTMA (the National Treasury Management Agency), will invest up to €50m, matching €50m from Quadrant.
Kennedy Wilson Europe’s former chief financial officer, Apwinder Foster, is moving to debt fund manager DRC Capital.
Foster, who had been courted by a number of firms, will join DRC later this month in the new role of chief operating officer.
M7 Real Estate is financing its latest acquisitions,1.4m sq ft of Dutch industrial, office and retail assets, with debt priced at a 350bps margin from Deutsche Bank.
The pan-European investor and asset manager, led by Richard Croft, bought the assets from three vendors for a combined price of over €82m. They were acquired for M7’s latest, and second, continental European real estate fund.