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Blackstone wins €6.4bn Spanish mortgage pool

Blackstone has won the hotly contested bidding for Catalunya Banc’s  €6.4bn Project Hercules portfolio of bad Spanish residential loans. The US opportunity fund is paying €3.5bn for the portfolio, which Catalunya Banc said had already been written down by €2.2bn to €4.2bn.  To get to €4.2bn,  FROB  – the agency set up to restructure Spain’s troubled banks – will […]

Bayside acquires €40m Italian NPLs; closes in on third Dutch deal

Opportunistic investor Bayside Capital has acquired its first non performing loan portfolio in Italy and is about to close its third  Dutch deal with joint venture partner M7 Real Estate. Bayside bought the NPLs, with a €40m face value, from Banking Group Cassa di Risparmio di Ravenna. The assets are secured against a mix of apartments, […]

Southern Cross restructuring triggers CMBS default crisis

Equinox, Hercules and DECO deals may be hit, Barclays Capital warns

In brief

Asian lenders power up Battersea Four Asian banks have under- written £790m of development finance for the Malaysian owner- developers of London’s Battersea Power Station site. Malaysia’s CIMB Bank and Overseas Chinese Banking Corporation, Singapore’s Maybank and Standard Chartered provided a 3.5-year facility for phase 1, including the power station refurbishment, and a five-year loan to […]

Recent property lending deals

Real Estate Capital commentary As 2012 draws to a close, the biggest UK financing deals in the market are for hotels. DekaBank and Credit Agricole are refinancing the maturing loan on London’s Savoy for the landmark’s royal Saudi Arabian owner, while three banks are underwriting and arranging finance for ADIA of Abu Dhabi to buy […]
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