October 2013 Issue
Spate of deals reshuffles the property fund manager pack
GLOBAL FUND MANAGER RANKINGS Major players as well as independents look vulnerable to consolidation, reports Jane Roberts
Lloyds finalises shortlist for Project Hampton loan sale
Five expected to enter final phase for €1.5bn pan-European loanbook
Quest for better-value deals lures lenders out into regions
REGIONAL LENDING Growing pack of lenders climbs risk curve to fund repriced regional assets, writes Lauren Parr
Opal student assets set for move to Australia’s Campus
Australian operator poised to beat two US rivals to win £245m portfolio
Indirect Investment Market: Jones Lang LaSalle market commentary
UK market overview
Experts’ real estate finance vision aims to prevent crash
Recommendations include linking CRE lending to long-term LTVs
Three bidders vie to take on German lender WestImmo
Aareal, Pimco and ING tipped to be in running to acquire €15.2bn book
Housing revival gives wings to bridging expert Dragonfly
DRAGONFLY PROPERTY FINANCE Mainstream banks’ retreat gave Dragonfly Property Finance the space to write 1,200 residential loans in the past five years, writes Doug Morrison in the latest in our series on specialist lenders
IREBS unveils first German debt survey
Survey covering 50% of market shows competition will put pressure on margins and LTV levels
AXA set to double loanbook via Norges mandate victory
Co-investment with Norway’s wealth fund could take book size to €15bn
Low fees are the price to pay for securing DC mandates
PENSION FUNDS – DB to DC Only big property players can balance paying high transaction costs while keeping charges low
Aviva takes a hit in Redefine shopping malls restructuring
Insurer writes off chunk of Redefine’s debt on two secondary centres
Henderson hits funding trail for Leadenhall tower in City
Mandate for £200m-300m to back £1bn scheme in heart of the Square Mile could be largest development financing ticket since financial crisis
Property struggles to define its contribution to pensions
PENSION FUNDS – DB to DC Defined contribution schemes’ liquidity requirement is property’s problem, reports Alex Catalano
Investors take a trip up the risk curve and out into the regions
COMMENT writes Jane Roberts
Debut Aldersgate deal gets Ferrari’s new vehicle moving
ASHBY CAPITAL The investment firm set up by former Heron International man Peter Ferrari is hunting for further central London deals, after buying 200 Aldersgate in the City for its Saudi client, writes Jane Roberts
North American might takes Brookfield to top of the table
GLOBAL FUND MANAGER RANKINGS US and Canadian giant tops fund managers table as market returns to growth, writes Jane Roberts
Putting real assets into the mix will help to feather NEST
PENSION FUNDS – DB to DC Retirement-date funds give pension provider more choice on asset allocation, writes Alex Catalano
In brief
DebtX to sell $5bn US portfolio America’s Housing & Urban Development (HUD) has appointed DebtX to sell a $5bn portfolio of non-performing loans. The sale, the largest DebtX has undertaken for HUD, is expected to attract international bidders. DebtX said the model would be applicable to Spain or other European countries with large residential non-performing […]