REC staff

Forum Partners plans to start investing in non-performing Irish property loans. The real estate private equity firm hopes to achieve a deep discount on a €350m mixed portfolio of small loans being sold by Ireland’s National Asset Management Agency. Forum chief executive officer Russell Platt said: “The properties have been valued at €100m and the […]

L iberty Living secures £100m despite shorter track record than others that have tapped US market

Scottish housebuilder The Miller Group has this month completed a £160m refinancing led by Blackstone. Blackstone subsidiary GSO Capital is taking a controlling stake, diluting the Miller family’s previous 62%. Lloyds Banking Group’s former 20% stake, acquired via HBOS in 2008, is also diluted. Royal Bank of Scotland, Noble Grossart and senior executives are also […]

Canadian group Fairfax Financial has given US property firm Kennedy Wilson a €250m non – discretionary mandate to invest in European debt and direct assets. The companies have a US partnership, where Kennedy Wilson has invested $278m. The new partnership will first target the UK and Ireland and Kennedy Wilson will make a 10% co-investment. […]

Deutsche Pfandbriefbank (pbb) expects to lend at least €6bn on property this year after completing €6.3bn of business in 2011. The bank has restructured its origination team following Harin Thaker’s departure, appointing London-based Charles Balch as head of cross-border business, the UK and central Europe. Of the banks’s €6.3bn real estate lending in 2011, €2.8bn […]

Special servicer of defaulted CMBS loan auctions 3,000 German homes to private equity group Benson Elliot has bought a German housing portfolio in one of the first asset purchases from a defaulted German CMBS loan. The private equity group bought 3,000 TOR portfolio homes via a sale of the defaulted CMBS loan, directed by special […]

JER Partners’ European fund management business has finally completed its transfer to LaSalle Investment Management. LaSalle said the transfer covered 11 investments, with over 90 assets in two funds, thought to be the pan-European JER Europe Fund III and the Marbleton Property Fund, which raised €312m for investment in Ukraine and Russia in 2007. JER […]

Capital flows in and out of 65 UK funds were broadly flat and volumes were down at the end of last year. Association of Real Estate Fund figures for Q4 2011 recorded a small net outflow, of -£4.5m, slightly below the third quarter, when the net outflow was -£10m. “This is a result of less […]

BNP Paribas may use some of the cash it had earmarked for the acquisition of rival DTZ to buy an investment management business. A source said that following DTZ’s sale after a pre-pack administration to Australian engineering, asset management and property services firm UGL, BNP had cash available to build up BNP Paribas Real Estate […]

As EPISO reaches full investment, Ric Lewis could compete with former employer on new funds AEW Europe and Tristan Capital Partners could be competing to raise opportunity funds later this year. The two fund managers currently work together managing the European Property Investors Special Opportunities fund (EPISO), the second in a series which was launched […]