Monthly Archives: August 2011

Lloyds Banking Group calls receiver in on £180m of UK properties

Lloyds Banking Group has appointed an LPA receiver to sell 34 UK predominantly secondary properties worth around £130m after triggering a bankruptcy credit event against two borrowers for non-payment of interest on two securitised loans, CoStar News can reveal. Read … Continue reading

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Deustche Annington to outline plans for Europe’s largest CMBS refi

Terra Firma-owned Deustche Annington hopes to implement its “amend and extend” strategy for the €4.7bn GRAND securitisation by the end of the year. An outline of Deustche Annington’s proposed strategy to refinance Europe’s largest CMBS will be delivered by early … Continue reading

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AIG plots return to European property lending

AIG, once the world’s largest insurance company, is rebuilding its European real estate division in London with an eye on resuming property lending, issuing securitisations and buying debt, CoStar News can reveal. Stewart Hotston has been poached from Hatfield Philips, … Continue reading

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Eurohypo to cull further €4bn of property loans by year end

Eurohypo expects to cuts its European commercial real estate loan book by a further €4bn over the second half of the year, reducing its total portfolio to €63bn, CoStar News can reveal. Last week, Eurohypo confirmed it had reduced its … Continue reading

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Apollo’s €400m WestImmo deal ‘expected’ in September

Apollo Global Management’s protracted deal to buy €400m WestImmo is expected to go through in September at the earliest. The US opportunity manager is still in negotiations with nationalised WestLB, the German lender’s owner, to transfer around €8bn and €9bn … Continue reading

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Westfield closes in on £550m Stratford City bank financing

Westfield, the Australian property developer, is expected to close a circa £550m five-year senior debt finance package for its Stratford City shopping centre with a consortium of three banks by the end of August. Eurohypo, HSBC and Credit Agricole CIB … Continue reading

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Brussels ponders tougher commercial Solvency II capital charge

European Commission officials have proposed splitting the Solvency II capital charge between residential and commercial in a move that would see an even more onerous charge for insurers’ direct commercial property investment risks, CoStar News can reveal. Under the proposals, … Continue reading

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HSBC’s European commercial property loan book lifts £790m

HSBC’s European commercial real estate loan book has risen by $1.3bn (£790m) over the last six months to $38.3bn (£23.3bn), or 34.7% of the banking giant’s total global real estate loan book. HSBC’s European exposure is predominantly secured against UK … Continue reading

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