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Wells Fargo Bank has provided a $311.8m loan to finance part of the The Howard Hughes Corporation’s Downtown Summerlin project in Las Vegas, Nevada. The three-year loan has an initial maturity date of 15 July, 2017, with two one-year extensions and an initial interest rate of one-month LIBOR plus 2.25%. The loan will be used […]
Forest City Enterprises has closed on a three-year, $350m bridge loan through Morgan Stanley Bank to refinance the Ridge Hill retail center in Yonkers, New York, roughly two miles north of Manhattan. The loan refinances an original 2007 construction loan on the 1.3-million-square-foot mixed-use complex, and the firm hopes it will help give new steam to what it has deemed to […]
Goldman Sachs has today launched the third new European CMBS deal this year. The €198.2m MODA 2014 transaction is the third European CMBS and the second Italian deal this year. It follows DECO-2014 Gondola, Deutsche Bank’s first post-crisis Italian deal which was sold last week, and Bank of America Merrill Lynch’s Taurus UK 2014-1 where the loan is […]
Carlyle has mandated CBRE to help it source whole loan financing of around €100m for the recapitalisation of three European retail assets including one in Portugal. The private equity group’s Freeport Outlet Alcochete retail centre near Lisbon was inherited through Carlyle’s acquisition of outlet mall developer Freeport in 2007. It was extended to 42,934 sq m […]
AustralianSuper, the A$75bn superannuation fund that has begun to assemble a direct property portfolio overseas, has appointed Rockspring Property Investment Managers to buy large office and retail assets in continental Europe. Rockspring is the second European-based manager appointed by AustralianSuper following two mandates made to TIAA Henderson Real Estate to invest in UK prime shopping […]
Hines has acquired two mixed use assets in German city centres, financed with separate debt from LBBW and ING, on behalf of an investor client. Kö-Quartier in Düsseldorf and Kronprinzbau in Stuttgart were the first purchases for a new Luxembourg fund set up by Hines for its investor. The assets will be managed by its […]