REC staff
Joint venture with Investire Immobiliare will launch pan-European fund
Hunter Property Fund Management is funding a Czech retail scheme with €9.2m of equity. The Edinburgh-based manager’s Prague team arranged the funding for big box retailer OBI, which is taking a store in Frydek Mistek on a 15-year lease. “The forward commitment structure allows the developer to attain development finance by having a contracted exit; […]
Peakside Capital is expanding into Poland via the acquisition of Allied Irish Banks’ local fund management subsidiary. The boutique European private equity firm, established 18 months ago by Roger Barris and other real estate colleagues from Bank of America Merrill Lynch’s principal investments division, signed an agreement this month to buy the business, plus AIB’s […]
Claxon moves to Cordea Savills John Claxon has left BNP Paribas REIM to join Cordea Savills, where he will help to expand the European fund manager’s segregated mandates business. Claxon is a director of investment and will report to George Tindley, Cordea Savills’ head of UK investment. BNP Paribas recently lost one of its longest-standing […]
Grosvenor has moved into the UK industrial market via an indirect investment in John Sims’ Industrial Ownership. Sims is relaunching his I.O. Asset Management business, which he sold in 2007, by setting up a fund called I.O. Investment with capital from Grosvenor for a £35m investment programme. Sims’ and partner Angus Scott Brown’s business model […]
Private bank and wealth manager LJ Capital has provided up to £500m of capital to set up a private equity fund manager with former London & Regional deal-finder Jason Kow. The company, Queensgate Investments, has launched a fund backed by five LJ Investment Group family office clients, who have allocated £100m of discretionary capital and […]
New firm will co-run £300m European Real Estate Debt Fund with Duet
Italian and Spanish investors seek international safe havens for capital
Deutsche Postbank is financing the acquisition by sharia-compliant Gatehouse Bank of a West Midlands office block let to BT. Invista Foundation Property Trust, now managed by Schroders, sold the newly-completed, 75,000 sq ft building on the edge of West Bromwich for £19.5m, at a 5.8% initial yield. The lease runs for another 14 years; IFPT […]
Royal Bank of Scotland and Santander have refinanced Primary Health Properties’ banking facilities. The banks have lent £175m, comprising a £125m term loan and a £50m revolving facility. Both banks were already lenders to PHP but an existing bilateral loan with Allied Irish Banks has been restructured. Key covenants of the four- year facility are […]