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Oaktree Capital Management has chosen a financier to provide a whole loan for its £430m purchase of three regional UK business parks, Real Estate Capital can reveal. Barclays is to provide a whole loan of around £344m, reflecting an 80% loan-to-value to the private equity firm. Oaktree had been seeking a five-year loan with a […]
One of the senior figures in real estate workout in Lloyds Banking Group’s business support unit has left the bank to set up his own business, Real Estate Capital can reveal. Andrew Wilson, head of the real estate solutions team, has departed from the UK bank and is understood to be establishing a new business […]
Guggenheim Partners is to provide a loan of just under £130m to finance the redevelopment of one of the most important landmarks of the London 2012 Olympic Games.
Starwood Property Trust has provided a $480m construction loan to real estate developer Jay Paul Company for the construction of the tallest mixed-use tower on the West Coast of the United States. Plans for the property at 181 Fremont Street in San Francisco, California call for a 684,000-square-foot, 55-story class A office and luxury condominium […]
The refinancing prospects of the UK’s €58bn of outstanding CMBS loans “remain challenging” according to ratings agency Standard & Poor’s. S&P warned in its latest CMBS bulletin covering the second quarter of the year that the disparity between prime and secondary property yields could result in “repercussions for refinancing European CMBS loans, many of which […]
Westfield’s £750m CMBS has been priced at 87-90 basis points by investment banks Deutsche Bank and Crédit Agricole. As revealed by Real Estate Capital (28.7.2014) it is to be the lowest priced CMBS issued since the downturn. Westfield Stratford City Finance, a single-tranche deal, has been AAA rated by both DBRS and Fitch Ratings. The new […]
Urban Exposure has pulled its £500m London Stock Exchange float citing “the prevailing IPO backdrop”. The vehicle that was to be known as Urban Exposure Real Estate had planned to use the equity to issue loans for residential development in the capital and announced its intention to float at the start of July. It said […]
M&G Investments has provided £40m of long-term finance to Merseyside housing association One Vision Housing. The 30-yearloan will allow One Vision to refinance existing bank debt held. It will is held against an element of its 11,500 portfolio and will allow the housing association to undertake new development. M&G now has a book of £4bn through […]
Christian Candy’s Omni Capital has provided a £48m bridging loan to fund the acquisition of a residential development site in Chelsea Harbour, west London. The loan has been issued to the Hadley Property Group, which is backed by the multi-family office the LJ Group and private family office the Peterson Group. The site, known as […]
Kennedy Wilson Europe Real Estate has agreed a deal to buy a portfolio of loans secured against Irish real estate for €75m. The loans are being sold by Royal Bank of Scotland’s Irish subsidiary Ulster Bank. Known as the Elliott Portfolio it includes loans held against 13 assets. The three largest, which make up around […]