Beacon Capital Partners France has refinanced the country’s tallest office tower through a €600m refinancing package from pbb Deutsche Pfandbriefbank, Aareal Bank and Blackstone Real Estate Debt Strategies. A maturing loan secured against First Tower in Paris’s La Défense business district, was replaced with €515m of senior debt and an €85m mezzanine loan. The 758 […]
Deutsche Bank’s European head of mergers and acquisitions for real estate, gaming and lodging has joined Jones Lang Lasalle. John O’Driscoll has left the bank after eight years and will become part of the advisory firm’s corporate finance department where he will take up the new role of head of mergers & acquisitions for Europe, […]
Blackstone Mortgage Trust has made its entry into continental Europe, issuing its first loan there, on an office portfolio in the Netherlands. Blackstone’s US REIT provided a €28m senior loan for joint venture partners Angelo, Gordon and Valad Europe, secured on the Equinox portfolio of nine Dutch office buildings. In May the investors paid €37m for the […]
CREFC Europe is organising a seminar focused on interest rate hedging as the prospect of a hike becomes increasingly more likely.
A trio of banks have supplied Kennedy Wilson Europe Real Estate with £225m, in the listed investor’s first corporate debt facility. Bank of America Merrill Lynch, Deutsche Bank and JP Morgan have put in place a three-year, unsecured, floating rate revolving facility of up to £225m. The company intends to use the funds for general […]
The Commercial Real Estate Finance Council Europe (CREFC) has submitted its response to the Bank of England’s discussion paper examining the availability of credit data in the UK Headed by chief executive Peter Cosmetatos, CREFC’s response advocates establishing a loan database for commercial real estate financings and suggests that this resource should use CREFC’s European […]
JP Morgan has provided a $420m, five-year floating-rate CMBS loan to Thor Equities for the refinancing of the Palmer House Hilton in downtown Chicago. The loan replaces a previous $365m loan, providing a “more flexible loan structure… with a lower interest rate, resulting in millions of dollars in savings per year,” Thor said in a […]
Point Park Properties (P3) has sealed a €380m financing for its purchase of a 627,000 sq m logistics portfolio in Czech Republic in a new benchmark deal for the cycle in Eastern Europe. A club of three Czech banks fought off competition from German rivals to secure the mandate which is one of the largest and most competitively […]
The owners of The Savoy have completed a £300m refinancing of the famous London hotel by selecting a private equity investor to provide £100m of mezzanine debt, Real Estate Capital can reveal. Apollo Global Management won the mandate to make the mezzanine loan, which has been priced at an internal rate of return slightly higher […]
Cornerstone Real Estate Advisers has provided a $95.2m loan to Keystone Property Group for the acquisition and upgrade of six office properties in Westchester, New York and Stamford, Connecticut. A portion of the three-year, floating-rate loan will be used to fund upgrades to the properties, which Keystone acquired through a joint venture with Mack-Cali Realty Corporation […]