Deutsche Bank has sold off a $940m financing package it provided for a national portfolio of nursing homes operated under the SavaSeniorCare name and controlled by real estate mogul Rubin Schron. The single floating-rate mortgage loan – with an initial two-year term and three one-year extension options – is secured by a portfolio of 167 […]
Chelsfield and the Saudi Olayan Group have sourced debt from a club of four banks for their recent €1.2bn acquisition of one of the most significant portfolios to be sold in Paris for years. ING led the club in a circa €750m financing of the pair’s purchase of the ultra prime Paris property portfolio, sold […]
Credit Suisse and BAWAG are said to be lined up to provide circa €245m of financing for Lone Star’s purchase of a Dutch office portfolio from CBRE Global Investors. Lone Star acquired the good-quality assets from CBRE Global Investors’ €1.56bn CBRE Dutch Office Fund for a purchase price of around €350m. Leverage equates to about […]
ING and Nordea have won the financing mandate for Blackstone’s acquisition of a 200,000 sq m Central European logistics portfolio. The two banks are providing senior debt for the purchase of six distribution parks by Blackstone’s European logistics arm, Logicor from clients of Pramerica Real Estate Investors. The portfolio in Poland and the Czech Republic comprises: four […]
Och-Ziff Capital Management’s head of European real estate is leaving the New York-based hedge fund by mutual consent. The departure of David Gillerman does not signal any pullback from investing in European real estate according to Real Estate Capital‘s sister title, PERE. Rather the firm has embarked on a hiring program intended to bring aboard four to […]
Bank of America Merrill Lynch sold its £211.5m Taurus CMBS UK 2014-1 yesterday to 15 investors, with the class A notes tightening to 140 basis points over three month Libor. Europe’s second new CMBS this year to price and close was oversubscribed twice overall. Initial guidance had been 150 bps for the class As (up to […]
A division of Massachusetts Mutual Life Insurance Company has provided a $390m mortgage loan to JDS Development Group for a massive two-tower luxury residential development set to rise on Manhattan’s East River waterfront. Progress at the 626 First Avenue site, nestled between 35th and 36th Streets, follows nearly a decade of planning and a year-long search for […]
A rise in long-term interest rates is unlikely to impact significantly on property yields, according to a new study published by the Investment Property Forum.
Forest City Enterprises has closed on a three-year, $350m bridge loan through Morgan Stanley Bank to refinance the Ridge Hill retail center in Yonkers, New York, roughly two miles north of Manhattan. The loan refinances an original 2007 construction loan on the 1.3-million-square-foot mixed-use complex, and the firm hopes it will help give new steam to what it has deemed to […]
Goldman Sachs has today launched the third new European CMBS deal this year. The €198.2m MODA 2014 transaction is the third European CMBS and the second Italian deal this year. It follows DECO-2014 Gondola, Deutsche Bank’s first post-crisis Italian deal which was sold last week, and Bank of America Merrill Lynch’s Taurus UK 2014-1 where the loan is […]