Legal & General has agreed a £260m refinancing of the F&C Commercial Property Trust. The 10-year fixed rate loan will see the listed trust repay £230m of secured bonds, which paid 5.23% per annum interest and which mature on 30 June 2015. A separate £30m bank loan which matures on the same day will also […]
The developers of the newly-crowned tallest residential tower in the western hemisphere at 432 Park Avenue have drawn an additional $50m in financing from an affiliate of The Children’s Investment Fund. Harry Macklowe of Macklowe Properties and Los Angeles-based CIM Group have now called upon $160m of the total $400m that Talos Capital Limited agreed […]
Situs has appointed investment bank Raymond James to find a buyer for the business. The loan servicing, real estate advisory and asset management firm is aiming to find a suitor by the year-end. The business is currently owned by Ranieri Partners, Brookfield Investment Management, the South Carolina Pension Fund and members of the Situs management […]
Aeriance Investments has appointed a new director of origination to expand its lending into the UK regions. Chris Tessler will join the debt platform, which has been focused predominantly on providing development finance for high end residential properties in London. Aeriance is now aiming to originate a greater number in “strong residential markets across Greater […]
Fund manager AEW Europe has hired a new head of debt funds to oversee its existing real estate finance business and raise new funds. Thibault Chauvin is moving over from Colony Capital, where he was managing director for real estate debt strategies and origination in Europe; before that, Chauvin headed international real estate finance at Crédit […]
Cornerstone Real Estate Advisers has arranged a $56.5m loan to support the future of the new Residence Inn Boston – Back Bay Fenway [Park] in Boston, Massachusetts. The 10-year fixed rate loan to Boylston Properties backs the 175-key, extended stay hotel at 125 Brookline Avenue, which the firm completed and opened last summer. Boston-based Group One Partners […]
Wells Fargo has provided an $80m loan that upsizes and extends an existing floating rate mortgage loan at Brookfield Office Properties’ 200 Vesey Street in Lower Manhattan. The original loan, provided to Brookfield on the last day of December 2010, was for $150m, bringing the aggregate loan size to $230m. The property is part of the […]
Colony Capital is slated to hold a final close by the end of the month on its latest distressed debt fund, Colony Distressed Credit and Special Situations Fund (CDCF) III, which has hit its hard cap of $1.2bn in base capital commitments, reports our sister publication, PERE. The Los Angeles-based real estate investment firm, which […]
Ramón Camina-Mendizabal has resigned from his position as head of real estate finance, EMEA at Goldman Sachs, Real Estate Capital can reveal. After a 15-year stint with the investment bank Camina-Mendizabal (pictured) has left to help establish a new business with Ed Siskind the former head of Goldman’s Real Estate Principal Investment Area (REPIA). It […]
A new player in the European real estate debt market has bought the mezzanine debt secured against three UK business parks formerly owned by MEPC, Real Estate Capital can reveal. Highbridge Principal Strategies, owned by JP Morgan Asset Management, has taken just under £75m of a £335m whole loan secured against the regional assets that […]