Returns to senior lending on commercial real estate fell to 3.6% from 4.1% over the year to Q1 2015 , according to CBRE's latest UK Debt Prospects.
The main culprit in reducing gross returns was a 33bps fall in margins, allied to a 10bps drop in interest rates.
Tyndaris Real Estate, a London-based real estate debt fund manager, has closed its debut fund on €350 million and has deployed £28m (€39m) of the capital on two investments in London. In addition, the firm has added two to its investment team.
pbb Deutsche Pfandbriefbank is lending €430m to German developer and asset manager Aurelis Real Estate Management, refinancing loans maturing in December 2016. A further €100m is being provided by an undisclosed lender.
Lloyds Bank has appointed Klaus Betz-Vais to its commercial real estate division as a director in its institutional clients team. Betz-Vais joins from Helaba where he is a director in the property finance company’s origination team. He has also held previous roles at Saint Paul’s Asset Management, Wachovia, Eurohypo and Hypo Real Estate. In the newly created […]
Developer St Modwen has appointed British Land’s Rob Hudson as group finance director. Hudson, 41 and currently British Land’s group financial controller, is expected to take up the role in October. He replaces Mike Dunn who leaves St Modwen in May to spend more time with his family. Andy Taylor will become acting group finance […]
Fannie Mae and Freddie Mac’s market share of multifamily loan originations has dipped below “normal” levels after plummeting from the peaks achieved during the financial crisis, according to a new report from the Urban Institute.
The Chinese renminbi will appreciate by 60%, the Scandinavian countries will leave the euro to set-up their own currency, VAT rates will vary regionally across the UK, and the City will be transformed by Asian currency trading, the CREFC Europe Spring conference heard in London. In his keynote speech, economist Dr Savvas Savouri from Toscafund […]
The European Central Bank’s Quantitative Easing programme is pushing German Pfandbrief yields to new lows, illustrated by Deutsche Hypo’s heavily oversubscribed, 0.125% 2022 bond this week. German bond prices struck record highs this week after the ECB kept key interest rates on hold and reiterated its commitment to spend €60bn a month until September 2016. […]
US CMBS defaults fell to their lowest level since 2008 last year, marking a six-year low
Bank of America Merrill Lynch has launched the €455m five-year Taurus 2015-2 DEU CMBS secured by a single loan on IVG Immobilien’s The Squaire property at Frankfurt Airport. The six-tranche CMBS refinancing loan includes a 7.1% debt yield and matures in January 2020 with a six year tail period. The loan-to-value is 72.2% based on […]