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Lloyds Banking Group, under the leadership of its new CEO Antonio Horta-Osorio, is planning to accelerate its “disciplined reduction in non-core assets,” it said this morning. The part-nationalised bank, in a stock exchange announcement, said it will continue “to divest … Continue reading
The European Union’s proposed implementation delay for Solvency II will provide regulators and insurers with much-needed breathing space, but is unlikely to boost lobbyists’ efforts to reduce the overly prudent 25% capital charge. Solvency II includes new rules which define … Continue reading
Royal Bank of Scotland has instructed CB Richard Ellis to sell a major headquarters building linked to satellite broadcaster BSkyB at First Central in Park Royal, north west London, writes CoStar news editor Paul Norman. The building has been empty … Continue reading
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Max Property Group has bought St. Katharine Docks from AREA Property Partners and F&C REIT Asset Management for £156.3m in a joint venture with an overseas family trust. The price, which equates to £330 per sq ft, reflects a 34% … Continue reading
Four commercial mortgage backed securities (CMBS) have been issued in the US this week, worth an aggregate $3.24bn, in a frenzy of activity reminiscent of the pre-crash heydays. According to CoStar Group US news service, new players are jumping into … Continue reading
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Apollo Global Management, the US opportunity fund manager, is expected to complete its circa €400m purchase of Westdeutsche ImmobilienBank, the German property lending bank, within weeks. The sale by West LB, the German government-owned bank which owns WestImmo, will transfer … Continue reading
Nigel Chapman has resigned from West Immo to become a syndication director in Deutsche Pfandbriefbank’s London office. Chapman, who was head of syndication at West Immo for just over three years, will be responsible for exiting large underwriting, co-ordinating club … Continue reading
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Mark Roberts, former global head of research at Invesco Real Estate, joins RREEF today as managing director and global head of research based in New York. Roberts has been on gardening leave since May. While RREEF said this is a … Continue reading
There was a concerted effort in Brussels last week to be positive. The Belgian city was the location for this year’s Global ABS conference, hosted by Information Network Management, so chosen, not for its aesthetic splendour, but to draw in … Continue reading
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