REC staff
Eurohypo has taken over the disposal process of between €150m and €200m of insolvent Italian properties. It is seeking a buyer for the assets it inherited from insolvent owner Magiste Real Estate, via an auction. These include 6,000m2 of offices at 4 Via Silvio Pellico in Milan, which has redevelopment potential and could fetch €40m; and […]
Clydesdale Bank has lent £27.55m to property firms on two regional deals. Clydesdale Corporate & Structured Finance provided £23.75m to replace half of a loan Lloyds lent Development Securities and Patron Capital Partners last April to buy the Manchester Evening News Arena, valued at £73m. The loan expires in 2013. The bank also supplied Helical […]
Situs teams up with Helios to service German bank’s €3bn Nordics book The Situs Group is expanding further into Europe by taking on the servicing of HSH Nordbank’s €3bn Nordic legacy loan book. The US-owned debt adviser and loan servicer has set up a joint venture with US debt adviser Helios AMC to manage the […]
Pace Investments has attracted senior debt development finance for its speculative office scheme in central Cambridge. Private bank Investec’s structured property finance arm provided the loan for the 53,000 sq ft Botanic House, which Pace hopes to let for over £30/sq ft. Nearby, Microsoft has agreed to pay £29.50/sq ft for 77,800 sq ft on […]
Sanderson fills GPE finance post Nick Sanderson will join Great Portland Estates next month as finance director, replacing Timon Drakesmith, who has joined Hammerson. Sanderson was previously head of real estate corporate finance at Deloitte. Varandas moves to Aberdeen Aberdeen Asset Management has appointed Roberto Varandas to the new role of head of business development. […]
“It’s amazing how few of you are prepared to venture outside London…“It is a brilliant time to be lending. Everybody says: ‘London will power on. It will remain the financial capital of the world.’ “One French bank told me that it regarded London as a proxy for world GDP. Good on the French!” William Newsom, speaking […]
BayernLB has provided £70m of refinancing for the £617m Henderson UK Shopping Centre fund. The loan was used to repay existing loan facilities and is secured on the St James Shopping Centre in Edinburgh. Mike Worley, head of the bank’s London branch, said the deal demonstrated the bank’s commitment to the UK regional market.
Tristan Capital Partners has secured a €200m revolving credit facility from RBS International to finance acquisitions. It has reached exclusivity on five deals worth €250m across the office, retail, residential and logistics sectors in the UK, Germany, Austria and Central Europe, for its Curzon Capital Partners III fund. The core-plus fund, which was launched in […]
Pension fund buys £60m retail trust stake in large secondary market deal USS has made one of the largest secondary trades in a UK unlisted fund. The UK pension fund has invested around £60m in Standard Life’s Shopping Centre Trust, acquiring the units at what is thought to be a small discount to net asset […]
Far Eastern banks Bank of China, Industrial and Commercial Bank of China and Bank of Tokyo-Mitsubishi UFJ have taken part in a syndicate that provided £560m of debt for British Land. Arranged by Royal Bank of Scotland, the five-year, revolving unsecured corporate debt facility replaces a £790m loan set to expire in August. It was […]