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Irish investors Patrick McKillen and Padraig Drayne have refinanced a large regional shopping centre after regaining control of the asset by teaming up with Colony Capital.earlier this year to buy IBRC’s €800m ‘Pebble’ portfolio of non-performing loans. Deutsche Pfandbriefbank has lent £100m against the 800,000 sq ft Frenchgate Shopping Centre in Doncaster owned by the […]

Progress Residential is the sixth major residential home owner to securitize part of its housing stock through the bond markets. The 10th offering of its kind, Progress 2014-SFR1 builds the total SFR asset class, backed by income-producing rental homes, to a nearly $5.4bn business. Like a majority of the previous deals, the $473.4m bond is backed […]

LondonMetric Property’s UK joint venture with the Universities Superannuation Scheme, the Metric Income Plus Limited Partnership, has raised an extra £50m of debt finance. Deutsche Pfandbriefbank has extended the quantum of an existing facility put in place in November 2012 by £50m to £125m, and pushed the maturity out by two years to January 2020. […]

Related Fund Management’s credit platform has provided loans totaling $150m on two development projects – one in New York City and the other in Vail, Colorado – as the year-old group begins to examine a number of new opportunities across the US and a potential foray into Europe, managing director Brian Sedrish told Real Estate Capital. […]

Miami-based CGI Merchant Group (CGI) has secured a $23.4m loan from New York-based Rialto Group for the refinancing and upgrade of a prominent mixed-use property located at 55 Miracle Mile in Coral Gables, Florida that is to be packaged into a new CMBS. The loan is to be bundled into Wells Fargo’s $1.27bn WFRBS Commercial Mortgage Trust 2014-C22 […]

Blackstone has secured £200m of financing for its purchase of 125 Old Broad Street in the heart of the City of London. MetLife has provided a new six-year loan for the private equity firm’s purchase at a loan-to-value of 62.5%. The loan is thought to have a margin of around 150 basis points. The deal […]

Specialist investment divisions of The Blackstone Group and TPG Partners have teamed up to buy Kensington, the specialty UK residential mortgage lender, from Investec which bought the lender in 2007 during a UK residential property bull run, writes Robin Marriott. Blackstone Tactical Opportunities and TPG Special Situations Partners (TSSP) have paid £180m) for the company […]

Blackstone’s US-listed mortgage trust has made its first loan in Spain, following its recent entry into Continental European property lending. Blackstone Mortgage Trust has provided a €72m whole loan for US private equity firm Kohlberg Kravis Roberts’ (KKR) purchase of two Spanish retail assets from British Land: Nassica, a 95,000 m2 retail and leisure centre […]

Fitch Ratings is raising another red flag on single-borrower, single-family rental securitizations in its latest clash with the methodologies of its competitors. The ratings agency distributed an article last week explaining why it has not yet rated any SFR securities. In the article, titled “US Single-Family Rental Deals Face Higher Refinance Risk,” authored by managing […]

Lloyds Bank Commercial Banking has appointed a successor to Barry Fowler, its former head of corporate real estate, Real Estate Capital can reveal. Madeleine McDougall (née Forrest) has been brought in as head of origination with its global corporate real estate business from Deutsche Pfandbriefbank. She will concentrate on Lloyds’ large ticket lending of usually […]