Ballymore has struck a deal with a Malaysian investor that will see it recoup £428m and allow it to pay back a substantial amount of its debt to NAMA, as tipped by Real Estate Capital.
Transamerica Life Insurance Company has provided an affiliate of North Dakota-based Sterling Real Estate Trust with $62.6m in financing for the acquisition of a 1,422-unit apartment portfolio in the Minneapolis-St. Paul metropolitan area of Minnesota — aka the Twin Cities. The loans back five of seven garden-level apartment buildings that the REIT bought for a reported $103.5m. […]
TPG has acquired the majority of a $2.5bn portfolio of high-yield real estate loans from Deutsche Bank’s Special Situations Group, taking along with it a team of 11 origination and risk management professionals.
The private equity firm, through a newly-formed REIT called TPG Real Estate Finance Trust (TRT), acquired a 75% stake in the existing portfolio, and it has raised $750m in capital from institutional investors for new loan originations. Deutsche Bank retains a 25% interest.
Helical Bar has obtained a £165m revolving credit facility from HSBC for its Barts Square scheme, in the City of London, held in joint venture with The Baupost Group. The new loan provides funding for the construction of Phase 1 of the project, which incorporates 144 residential units, 24,000 sq ft of offices , retail/restaurant space and accompanying public realm improvements and refinances an existing £35m facility from HSBC.
The voting for Real Estate Capital's inaugural awards has now closed. The awards will pick out the top lenders, borrowers and advisors in the European and US property markets; voting took place across 20 categories which received nearly 1,000 responses. The results will be revealed in a special supplement to be published in Q1 2015.
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Many of the concerns that rippled through the CREFC Miami conference this week were directed at the US CMBS market. Delegates asked tough questions about the quality of loans, underwriting and leverage levels. The Canadian CMBS panel this morning at the Fountainbleau Miami Beach offered a striking contrast, with a range of top Canadian lending […]
Orion Capital Managers has appointed a new UK head of retail, Real Estate Capital can reveal.
The cheery mood of the CRE Finance Council’s annual conference in Miami Beach carried over last night into a two-hour cocktail reception followed by a variety of late night industry parties. The sentiment is that the US real estate markets are strong, but inevitably some have begun to vocalize concerns about troubling trends in the industry, avoiding […]
The US Senate voted today 93-4 to reauthorize the Terrorism Risk Insurance Act (TRIA) for an additional six years. The CRE Finance Council issued a statement noting its position at the forefront of the advocacy effort to renew TRIA today as the CREFC Miami conference was in full swing. Created following the September 11 terrorist […]
KKR has set up a real estate lending platform in India with an investment from Singapore’s sovereign wealth fund GIC.
It is the second non-banking financial company (NBFC) set up by KKR in India reports Real Estate Capital's sister publication, Private Debt Investor, and it will provide structured credit solutions for the country’s real estate sector. KKR’s first NBFC was set up in 2009 allowing the New York-based firm to extend more than $2 billion of structured financing to 21 business groups in India.