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The owners of The Savoy have completed a £300m refinancing of the famous London hotel by selecting a private equity investor to provide £100m of mezzanine debt, Real Estate Capital can reveal. Apollo Global Management won the mandate to make the mezzanine loan, which has been priced at an internal rate of return slightly higher […]

Citibank has syndicated around £235m of the £300m loan it issued against Ares and Delancey’s Walbrook Building in the City of London in May, Real Estate Capital can reveal. The deal is a sign of the enormous appetite for debt that is being sold down by large banks with the ability to issue big ticket, […]

The lenders on Blackstone’s recent $800m acquisition of a 47-hotel portfolio from Clarion Partners will securitize the $570m senior loan on the deal, a source familiar with the deal told Real Estate Capital. JPMorgan Chase Bank and Deutsche Bank will securitize the five-year, floating rate debt into a single-borrower securitization in the coming weeks. The banks – […]

A German pension fund has made another large investment in debt, providing €450m for the refinancing of Mall of Berlin in the German capital. Bayerische Versorgungskammer (BVK) contributed the senior portion of a larger €600m refinancing of the new shopping centre, which saw Deutsche Hypo take a subordinate tranche of €80m and two credit funds of BNP […]

Sam Chang’s McSam Hotel Group has acquired a mental health facility at 334 West 36th Street with the help of a $40m loan from Pembrook, Real Estate Capital has learned. The loan carries a 79% loan-to-value ratio based on the corresponding $50.8m acquisition of the property, located in a section of town packed densely with […]

After pricing its first securitization backed by single-family homes last week, American Residential Properties is looking forward to a second. Company CFO Shant Koumriqian told Real Estate Capital the new offering could come as soon as “early next year.” “At this point, that seems very attractive,” he said. “We’re seeing a growing acceptance of this asset class.” American […]

Big Yellow Group has put in place three new loans reducing its average cost of debt and extending its maturity. The London-listed self-storage company has agreed a £145m, five-year facility with Lloyds Bank and HSBC Bank. Half is a term facility and half is revolving. The term loan has a margin of 175 basis points […]

Blackstone Real Estate Debt Strategies (BREDS) has provided an affiliate of Fort Capital Management with a $290m construction loan for the development of a nine-acre Four Seasons resort at The Surf Club in Surfside, Florida. The loan is for three years at a variable rate and carries a loan-to-cost of roughly 50%, a source told […]

Deutsche Bank has provided a £200m loan to the owners of one the UK’s most upmarket aparthotels, Real Estate Capital can reveal. The new facility has been used to the owners of the Grosvenor House Apartments on Park Lane in London’s West End. It is owned by Park Lane Properties, a joint venture between Kuwaiti […]

Brockton Capital has refinanced its UK retail parks portfolio with a new loan of around £190m, Real Estate Capital can reveal. It is understood that Aareal Bank has provided a five year facility that is held against a portfolio of eight parks. The parks are thought to be valued at around £300m, meaning a loan-to-value […]