Guggenheim Partners is to provide a loan of just under £130m to finance the redevelopment of one of the most important landmarks of the London 2012 Olympic Games.
Starwood Property Trust has provided a $480m construction loan to real estate developer Jay Paul Company for the construction of the tallest mixed-use tower on the West Coast of the United States. Plans for the property at 181 Fremont Street in San Francisco, California call for a 684,000-square-foot, 55-story class A office and luxury condominium […]
The Guardian Life Insurance Company of America has provided a $55m loan to Prime Residential for its Paz Mar Reserve waterfront multi-housing community in Oxnard, California. The 10-year fixed-rate loan will be used to retire an existing floating-rate loan and finance a property renovation. Paz Mar Reserve, at 3100 Peninsula Road in Channel Islands Harbor, […]
The refinancing prospects of the UK’s €58bn of outstanding CMBS loans “remain challenging” according to ratings agency Standard & Poor’s. S&P warned in its latest CMBS bulletin covering the second quarter of the year that the disparity between prime and secondary property yields could result in “repercussions for refinancing European CMBS loans, many of which […]
Westfield’s £750m CMBS has been priced at 87-90 basis points by investment banks Deutsche Bank and Crédit Agricole. As revealed by Real Estate Capital (28.7.2014) it is to be the lowest priced CMBS issued since the downturn. Westfield Stratford City Finance, a single-tranche deal, has been AAA rated by both DBRS and Fitch Ratings. The new […]
Urban Exposure has pulled its £500m London Stock Exchange float citing “the prevailing IPO backdrop”. The vehicle that was to be known as Urban Exposure Real Estate had planned to use the equity to issue loans for residential development in the capital and announced its intention to float at the start of July. It said […]
Real estate private equity firm Madison Realty Capital has completed the first closing of its third debt fund, Madison Realty Capital Debt Fund III, raising $145.4m of capital commitments. Commencing 23 July for an 18-month raise, the firm is calling upon investors including public and corporate pension funds, university endowments, family offices, and wealth managers for […]
M&G Investments has provided £40m of long-term finance to Merseyside housing association One Vision Housing. The 30-yearloan will allow One Vision to refinance existing bank debt held. It will is held against an element of its 11,500 portfolio and will allow the housing association to undertake new development. M&G now has a book of £4bn through […]
The Moinian Group has secured a $539m loan for its 1.16 million-square-foot luxury residential rental tower under construction at 605 West 42nd Street in Manhattan, on the northwest corner of 11th Avenue. The loan was provided by the New York State Housing Finance Agency. Bank of China and life insurance company Ullico also played a role in […]
New York City-based investment and advisory firm Talmage has completed the $100m first closing of Talmage Total Return Partners, a new high-yield real estate debt fund. The fund is targeting $300m in total investor commitments and will make opportunistic commercial real estate debt investments, including CMBS, whole loans, B-Notes, and mezzanine loans. The capital commitment comes […]