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After mulling a new commercial real estate debt business for several months, a group of former Starwood executives have put a name on their new venture: Acore Capital. Boyd Fellows and Warren de Haan began drawing up plans to launch a new lending platform earlier this year, as first reported in Real Estate Capital.
Citizens Bank is providing $36.4m of three-year, floating-rate financing to Kairos Real Estate Partners and Artemis Real Estate Partners for the recapitalization of Fort Washington Executive Center in Philadelphia, Pennsylvania. The deal includes a $22.1m bridge loan and $14.3m of future funding for the three-building, 400,000 sq ft, Class A office complex.
Julia Marciano has joined Allianz Real Estate as head of loan asset management of European debt, based in the Paris office.
Steven Doherty has joined CBRE Capital Markets as senior vice president to head the firm’s expanded Debt & Structured Finance practice in the greater Philadelphia region.
MetLife, through MetLife Real Estate Investors, originated approximately $12.1bn globally in commercial real estate loans in 2014, topping 2013’s $11.5bn and setting a company record. Of the $12.1bn total, $8.6bn were US loans, the firm told Real Estate Capital. As it expanded its international efforts, MetLife also originated more than $2.1bn in the United Kingdom; […]
Investors are planning to pump €42.5bn into real estate globally this year, a 22% increase on 2104 according to INREV’s annual survey of their intentions. INREV’s survey canvassed 337 investors, fund managers and fund of fund managers who have an aggregate €1.6tr of real estate assets under management. Nearly 46% are planning to increase their […]
IVG has opted for a refinancing of its The Squaire project in Frankfurt following an unsuccessful sales process that saw bidders fail to hit the company’s €700m reserve price. Bank of America Merrill Lynch has provided a €470m, five-year loan, which at IVG’s valuation would be a 67% loan-to-value.
Mike Dunn, St Modwen Properties’ group finance director, is to leave the company. Dunn is to leave the listed UK regeneration specialist in order to spend more time with his family. He is to remain with the company until 31 May or earlier if mutually agreed to ensure an orderly transition and at that point […]
Deutsche Annington, which has made a €3.9bn offer for its main rival Gagfah, has raised €1bn by issuing a seven-year bond. The residential company will pay a coupon of 4%. The bonds are BBB- rated.
Deutsche Bank’s €679.9m CMBS – DECO 2014-BONN - has been sold at a margin of 199 basis points. The loan is secured against 29 German offices owned by IVG
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