REC staff

UK property companies continue to be active in the US private placement market. British Land is planning to raise about $480m by placing  a series of bonds in the US. It is rumoured that at least one of the landed estates that recently raised capital this way – Howard de Walden, Cadogan and Grosvenor – […]

Eurohypo is to provide up to £86m of debt for Max Property Group’s and Newmarket Property Holdings’ £156.3m purchase of St Katharine Docks, at a loan-to-value ratio of 55%. The 60/40 joint venture has agreed to buy the asset, net of acquisition costs, from AREA Property Partners and F&C REIT Asset Management. Max Property Group will […]

Schroder Property Managers hopes to reach a final closing for the Columbus UK Real Estate Fund by the end of next month. The value-added fund, run by Joe Froud at Columbus Capital Management, has spent 80% of its initial £85m of equity after agreeing to buy a £50m portfolio with two joint-venture partners. Schroders’ property […]

Schroders raises only a third of £200m equity it sought for London fund Schroders has raised just over one third of the new equity it had hoped to attract for its flagship central London fund. The fund manager had a mandate early last year from investors in the West End of London Property Unit Trust […]

ASR REIM has launched a Dutch retail fund and hired CB Richard Ellis to help raise €300m of equity by the end of the year. The manager, a subsidiary of Dutch insurance group ASR, and CBRE will target Dutch institutions and international investors; ASR will remain the cornerstone investor. The closed-ended, mutual fund, with an […]

Controlling class noteholders in the distressed Opera Finance (Uni-Invest) B.V. CMBS may appoint Fortress Investment Group as the new operating adviser at a meeting scheduled for 27 July. The move would complicate an already difficult attempt by Eurohypo, special servicer to the Dutch office CMBS, to recover value for noteholders, who face heavy losses. Eurohypo […]

The loan on prime London property Devonshire House is at risk of payment default unless rental income improves, Fitch Ratings has warned. The loan on the building, owned by US investors Witkoff Group and Madison International, is part of the Windermere XI CMBS. Lease expiries and vacant space mean that the net rental income is […]

Income formed more than a third of total pooled property fund returns in Q1 2011, AREF reports

Nori Gerardo Lietz is leaving private equity firm Partners Group. Gerardo Lietz, a partner at the Swiss-based fund manager since 2007, was a key contributor to its real estate strategy. Two years ago, in a paper called I will survive, she lambasted some private equity real estate fund general partners and outlined what needed to […]

Hermes is to invest in US property for the first time, on behalf of the British Telecom Pension Scheme. Hermes REIM has launched a US fund with two partners: local private company Hampshire Real Estate, which will source assets; and UOB Global Capital, a subsidiary of Singapore’s United Overseas Bank, which will market the fund […]