British GRI conference is just five weeks away; conference progamme now available

GRI, the global club of senior real estate investors, developers and lenders, is hosting its annual two-day British conference in five weeks amid a context of renewed uncertainty in global markets. This year’s two-day conference, on 3-4 May at the … Continue reading →

Tishman Speyer finances The Economist Plaza with £75m Deutsche Pfandbriefbank loan

Tishman Speyer has financed its £132.5m purchase of London headquarters of The Economist Group with a £75m five-year senior loan from Deutsche Pfandbriefbank (PBB). The Economist Plaza, located at 25 St James’s Street, comprises three mixed-use buildings – the Tower … Continue reading →

Returning “storm clouds” and Brexit fears loom large over revenue-raising Osborne Budget

Chancellor George Osborne’s eighth Budget was unexpectedly more difficult than he would have envisaged three months ago, with ambitions tempered by a slowdown in global growth and a worsening of the outlook for the world economy. Mr Osborne framed the Budget … Continue reading →

BAML books marginal profit on €317m Blackstone CMBS despite discounted junior note sale

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BAML priced the €317m Kingfisher CMBS transaction, sponsored by Blackstone, at an estimated marginal profit, despite selling the two junior tranches at a discount. The final capital structure for TAURUS 2016-1 DEU – which is the securitisation of a loan … Continue reading →

BAML refinances Certeum for Blackstone’s Logicor in potential CMBS

Logicor, Blackstone’s European logistics platform, has selected BAML to refinance Certeum’s logistics property portfolio with a €575m five-year senior loan which the investment bank will either securitise in a new CMBS transaction or syndicate. Certeum, a logistics and industrial property … Continue reading →

BAML issues initial pricing guidance for Blackstone CMBS which implies c. 300 bps blended bond margin

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BAML has issued initial pricing guidance for the securitization of a €333.7m loan extended to Blackstone, with the weighted average bond coupon expected to fall around 300 basis points. The TAURUS 2016-1 DEU transaction is the securitization of a loan … Continue reading →

Lloyds Bank closes £9bn new business in 2015 including record syndication levels

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Lloyds Bank closed approximately £9bn worth of UK commercial real estate (CRE) loans in 2015, of which an estimated £2bn to £3bn was syndicated through the bank’s commercial real estate team. The £9bn total is comprised of Lloyds’ separate CRE … Continue reading →

PBB expects new CRE lending to top €10bn in 2016 although warns of pressure to margins and funding costs

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Deutsche Pfandbriefbank (PBB) reported a 16% rise in real estate lending to €10.4bn in 2015, a level the bank expects to match in 2016, despite warning of further margin compression and potential increases to its funding costs. PBB’s overall group … Continue reading →

Propertize’s Reinout Van Riel discusses state of the NPL market ahead of European NPL conference next week

With just 10 days before the NPL Europe 2016 spring summit kicks off in London, CoStar News speaks to three of the key companies participating to hear their thoughts on the dynamics of the European non-performing loan market space. Reinout … Continue reading →