REC staff
US insurer’s recruits include Barry Worth, formerly with Nationwide – one of many traditional lenders stepping back as new entrants gain strength
Deutsche Pfandbriefbank and Unicredit Bank Austria have provided a €148m senior loan for Aviva Investors to refinance a 12-asset central and eastern European property portfolio. Aviva’s Central European Property Fund owns six offices in Warsaw, Katowice and Prague; four logistics assets; and two retail properties, all of which are well-leased, mainly to international tenants. The […]
Mandate to run MEREIT trust fits Schroders’ Continental growth plans
US private equity firm has made “big bet” on revival for Irish market
A £350m, five-year loan facility from Lloyds, MetLife and RBS has provided the final slug of refinancing for the loan backing retail warehouse fund Hercules Unit Trust’s CMBS. “We were very pleased to work with three major lenders,” said Lucinda Bell, finance director of HUT’s adviser, British Land. “We have raised £850m over a relatively […]
US lifts ban on funds advertising offerings to professional investors New US legislation has lifted the restrictions on private funds marketing themselves to professional and institutional investors. The change will help boutique fund managers to reach a wider US investor base. “If we or anybody else wants to market a European fund in the US, […]
Allegations of interest rate swap mis-selling by banks to borrowers have gained much press attention recently. The issue has been likened to that of payment protection insurance mis-selling, suggesting it will be the next big financial scandal, leading to lawsuits and mass compensation. But there are few similarities between these products. The commercial effects of […]
UK market overview The Jones Lang LaSalle Balanced Fund Index continued to fall in April following February and March’s decreases, losing a further 0.11%, writes Ashley Marks. Previously, the index had been positive since July 2009, flattening towards the end of 2011. The index is positive by just 1.42% over the past 12 months; or […]
The Crown Estate and AXA are the initial partners in Norges Bank Investment Management’s push to invest up to €50bn of Norwegian sovereign wealth in property, reports Alex Catalano
Capital raising has been brisk for low-risk/high-return junior debt funds, reports Jane Roberts