US CMBS delinquency rates stalled last month after a 13-month free fall, but experts said they could bounce back with the help of upcoming online property auctions. Research and data group Trepp said the overall US CMBS delinquency rate decreased by just one basis point in July, to 6.04%, after a year-to-date drop (through June) of […]
After pricing its first securitization backed by single-family homes last week, American Residential Properties is looking forward to a second. Company CFO Shant Koumriqian told Real Estate Capital the new offering could come as soon as “early next year.” “At this point, that seems very attractive,” he said. “We’re seeing a growing acceptance of this asset class.” American […]
Barclays Ireland has provided Irish Residential Properties REIT with a new €130m credit facility. The two-year facility is secured against the company’s assets. The Dublin-listed REIT raised €200m in April to invest in mid-market and luxury residential property in the Emerald Isle.In June it bought Marker Residences, an 84-flat scheme in Grand Canal Dock in […]
Big Yellow Group has put in place three new loans reducing its average cost of debt and extending its maturity. The London-listed self-storage company has agreed a £145m, five-year facility with Lloyds Bank and HSBC Bank. Half is a term facility and half is revolving. The term loan has a margin of 175 basis points […]
Blackstone Real Estate Debt Strategies (BREDS) has provided an affiliate of Fort Capital Management with a $290m construction loan for the development of a nine-acre Four Seasons resort at The Surf Club in Surfside, Florida. The loan is for three years at a variable rate and carries a loan-to-cost of roughly 50%, a source told […]
Deutsche Bank has provided a £200m loan to the owners of one the UK’s most upmarket aparthotels, Real Estate Capital can reveal. The new facility has been used to the owners of the Grosvenor House Apartments on Park Lane in London’s West End. It is owned by Park Lane Properties, a joint venture between Kuwaiti […]
Starwood Waypoint Residential Trust has ramped up its single-family rental and non-performing loan business with the $218.7m acquisition of two separate non-performing loan pools involving 1,294 NPR loans and 146 SFR homes. The SFR real estate investment trust funded the deals through a $500m warehouse credit facility with Deutsche Bank A.G. – $104m of which remained available […]
Mesa West Capital has provided loans totaling $51.4 million for the acquisition and renovation of two multifamily rental properties in the San Francisco Bay area of California, an area experiencing unrelenting rent spikes. Mesa West cited the Bay Area’s booming rental market as a sign that the loans, which carry loan-to-value ratios between 65% and […]
Brockton Capital has refinanced its UK retail parks portfolio with a new loan of around £190m, Real Estate Capital can reveal. It is understood that Aareal Bank has provided a five year facility that is held against a portfolio of eight parks. The parks are thought to be valued at around £300m, meaning a loan-to-value […]
JLL has recruited a new national director to establish a debt advisory business in Spain. Jorge Valenzuela Requena has been recruited from Hill International, the project and construction management business where he was business development director Requena’s role will be to help investors in the country to get the best possible financing terms and prepare […]