Monthly Archives: January 2012

Picton in talks with lenders over £220m refinancing

Picton Property Income Fund has begun talks with lenders to refinance around £220m worth of debt by June, which is likely to result in one or two tranches of senior debt being provided by three or four lenders, CoStar News … Continue reading

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Chenavari secures six of the best for €250m debt fund

Chenavari Investment Managers, the London-based hedge fund, has closed six real estate debt deals across the UK and Germany since launching its inaugural property debt fund in December last year, with plans to invest its entire €250m raised by the … Continue reading

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Inside C&R’s Mall and X-Leisure fund strategies

Capital & Regional has bought LaSalle Investment Management’s 2% stake in the Mall Fund for £5.6m, reflecting a circa 28% discount, as builds its stake in the specialist UK shopping centre fund it co-founded a decade ago. C&R’s opportunistic stake … Continue reading

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Trinity College takes 50% stake in Tesco sale-and-leaseback

Trinity College, part of the University of Cambridge College founded by King Henry VIII in 1546, has taken a 50% equity stake in the portfolio of 11 UK Tesco supermarkets, which the giant retailer closed in a £450m credit-linked CMBS yesterday, … Continue reading

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Tesco closes £450m UK supermarket CMBS

Tesco, the world’s fourth largest retailer, has sold a 50% stake in an 11-strong portfolio of UK supermarkets financed by a 30-year dated £450m credit-linked CMBS transaction which closed this afternoon. As part of the deal Tesco has completed one … Continue reading

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RBS’ £6bn annual property lending drive

Royal Bank of Scotland completed around £6bn worth of UK real estate refinancing last year including 30 deal closures in December alone, with a similar level of activity expected for the year ahead. RBS’s core UK real estate loan book … Continue reading

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L&G and AIG vying for Unite’s £100m refi

Unite, the UK’s largest student accommodation developer and investor, is in talks to refinance a maturing £100m Bank of Ireland senior debt facility with two of the markets’ newest property lenders. Legal & General and AIG are both vying to refinance the … Continue reading

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LandSecs eyes top up to six-bank £1bn revolver as Noel succeeds Salway

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Land Securities, the UK’s largest REIT, is in talks with a raft of banks to extend its £1.05bn revolving credit facility (RCF), signed last month with six banks across two tranches, CoStar News can reveal. The Royal Bank of Scotland, … Continue reading

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Francis Salway steps down from Land Securities

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Francis Salway, chief executive of Land Securities, is to the UK’s largest REIT at the end of March, bringing to an end an eventful eight-year tenure in which he has overseen substantial growth, conversion to a REIT five years ago … Continue reading

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