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London’s luxury flats are out of favour with lenders, as they focus on what is deemed ‘affordable’ residential in the UK capital.
Work needs to be done, but ‘adjusted market value’ can alert property lenders to looming
drops in value, in good time, argues Rupert Clarke (pictured) of the Property Industry Alliance
Lending in the US is an attractive proposition for European organisations, but fierce competition is already hitting loan margins.
Hermes Investment Management has provided a £120 million (€136 million) loan to UK boutique hotel operator Firmdale Holdings.
German bank Pbb Deutsche Pfandbriefbank has financed a development in Munich’s city centre, with a €112 million loan provided to the Brecht-Bergen family.
Unite Group, the UK student housing specialist, has signed unsecured debt facilities totalling £500 million (€565 million) with HSBC and Royal Bank of Scotland.
Bank of America Merrill Lynch has priced a £347.9 million (€389.3 million) UK CMBS, against the backdrop of a market which has been virtually closed for around 18 months.
Lloyds Bank has chosen the UK pub industry for the latest loan to be issued through its Green Lending Initiative, which grants reduced pricing for loans to assets that hit agreed sustainability criteria.
Allianz Real Estate and ABN Amro have written a €300 million loan, which is likely to be the largest single-asset financing in the Dutch office market this year.
Niche UK lender Octopus Property has provided a £31.3 million short-term loan to fund the purchase of a London office portfolio ahead of its conversion into apartments.