Oaktree Capital Management has chosen a financier to provide a whole loan for its £430m purchase of three regional UK business parks, Real Estate Capital can reveal. Barclays is to provide a whole loan of around £344m, reflecting an 80% loan-to-value to the private equity firm. Oaktree had been seeking a five-year loan with a […]
Bank of Ireland has provided Irish REIT Hibernia with a new three-year, €100m revolving credit facility. The corporate loan is the company’s first since its €375m IPO last December. It means Hibernia now has cash and undrawn committed facilities of more than €140m and €134m of debt held against its €336m of investments. Bank of […]
LaSalle Investment Management has poached a new director from Strategic Value Partners to work in its debt investments and special situations team, Real Estate Capital can reveal. Daniel Pottorff will focus on western European investments and will report into group heads Amy Aznar and Michael Zerda. The team currently manages €1.9bn of capital and Pottorff […]
Pbb Deutsche Pfandbriefbank has provided a circa £70m loan to Delin Capital Asset Management secured on a portfolio of eight UK logistics facilities. The assets, totaling 1.77m sq ft, and are held in its Delin’s €400m Capital Preservation Portfolio I fund, which was launched in October 2012. The five-year facility will allow the fund to […]
With the $342.67m American Residential Properties 2014-SFR1 securitisation set to hit the market, the relatively new single-family rental securitisation asset class is keeping pace with early projections for a breakout year. The offering is the seventh securitisation of SFR homes to date after Blackstone spawned the new asset class in November. The current players – Blackstone, Colony […]
Colony Capital has provided a €40.4m facility to Dolphin Capital Investors, a residential resort developer in emerging market. The Los Angeles-based private equity firm has entered an agreement with Dolphin Capital for a six year facility that has a fixed 11% rate. On top of this, Colony will receive income from its Amanzoe development near […]
One of the senior figures in real estate workout in Lloyds Banking Group’s business support unit has left the bank to set up his own business, Real Estate Capital can reveal. Andrew Wilson, head of the real estate solutions team, has departed from the UK bank and is understood to be establishing a new business […]
The £750m proposed agency CMBS to refinance Westfield’s Stratford City shopping centre in London has been pulled amidst uncertainty over ‘skin-in-the-game’ regulations. Westfield, advised by its banking partners Deutsche Bank and Crédit Agricole, had decided not to retain 5% of the notes, the so-called ‘skin-in-the-game’ designed to regulate arranging banks and align their interests with […]
NorthStar Realty Finance Corp.’s $4bn acquisition of all outstanding shares of Griffin-American Healthcare REIT II will include a reported $3bn of CMBS backing. Citigroup Global Markets, Barclays Bank, JPMorgan Chase Bank and Column Financial (the real estate financing arm of Credit Suisse AG) will provide the CMBS financing. NorthStar announced that it would acquire the Griffin-American […]
RFR Realty has secured $85m in loans for the $89.7m acquisition – and subsequent improvements to – the Holiday Inn SoHo in Lower Manhattan. AXA Equitable Life Insurance Company and AB Commercial Real Estate Debt (under the care of Alliance Bernstein) provided the loans, city property records show. A $70m senior loan is accompanied by a $9m […]