REC staff

Tesco’s £685m, fourth CMBS issue backed by income from its own property reflects better pricing and a wider range of investors than its predecessors. Tesco Property Finance 4 attracted more than 120 investors, from large UK insurance companies and pension funds to smaller fund managers. The oversubscribed deal was priced at 140 basis points over […]

Blackstone’s Special Situations Fund ll nears €1bn mark and plans sub-fund to target Europe, while Pramerica approaches $500m final close

Total fees paid to unwind complex CMBS deals can be massive, but advisers’ rewards vary greatly

Bond holders’ reluctance to reveal their hands makes restructurings tricky, reports Lauren Parr

The $1.15bn merger will add third-party fund management strength to CBREi in Europe and Asia

Beefed up origination team will ready bailed-out bank for sale or flotation

Eurohypo has syndicated £142.5m of debt to Axa in three separate deals this year. The latest involves the transfer of £50m of the £230m, five-year debt facility Eurohypo jointly supplied with Deutsche Bank for Schroders’ WELPUT fund in January. Before that it sold 25% of the debt it lent for Evans Randall’s £242.5m purchase of […]

Lauren Parr profiles some of the advisers that took roles in recent property debt restructurings

UK market overview The Jones Lang LaSalle Balanced Fund Index showed a 1.07% monthly increase in February, reflecting a 1.8% increase over the past 12 months – the first positive 12-month figure for some time, writes Julian Schiller. Taking into account secondary market pricing, the index has moved closer to par, at -6.39% for the […]

In future, investors are only likely to accept certain fees if managers work harder to earn them