Monthly Archives: February 2012

Jon Rickert enlisted to build Renshaw Bay’s real estate platform

Renshaw Bay, the boutique alternative asset management and advisory firm set up by former co-chief executive of JPMorgan Chase’s investment bank Bill Winters, has hired Jon Rickert to set up a European real estate debt platform, CoStar News can reveal. … Continue reading

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GPE secures £150m revolver with four banks

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Great Portland Estates, the central London REIT, has signed a five-year £150m unsecured revolving credit facility (RCF) with four banks including Royal Bank of Scotland, Lloyds Banking Group and Santander. The new RCF, or revolver, has a headline margin of … Continue reading

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MetLife ramps up ‘big ticket’ senior lending

MetLife, the US insurance company, is emerging as the UK’s largest “big ticket” senior debt lender with an appetite to write single real estate loans of up to £200m this year, CoStar News has learned. The insurance company closed around … Continue reading

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CREFC’s stellar conference is next month

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Next month Europe’s leading real estate bankers, debt investors, advisers and private equity players will assemble for the Commercial Real Estate Finance Council Europe’s (CREFC Europe) Spring Conference, in what promises to be a timely exploration of the market’s most … Continue reading

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Evans Randall eyes massive Drapers Gardens sale premium

Evans Randall, the UK private equity real estate company, is in talks to sell Drapers Gardens to Boston Properties, the US real estate investment trust, for around £285m, which would mark a £42.5m premium to the price paid less than … Continue reading

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HSBC’s European loan book rises by $2.6bn to $40bn in 2011

The global bank’s European real estate lending is comprised of a core increase of $1.47bn to $32.09bn over 2011, the first full annual rise in HSBC’s total lending to the sector since the credit crunch first emerged almost five years … Continue reading

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Lloyds sheds £13.5bn of real estate exposure in 2011

Lloyds Banking Group reduced its non-core global real estate exposure by £4.8bn last year, part of an aggregate £13.5bn run down in real estate exposure, the bank’s results confirmed this morning. The state-backed bank shed a further £3bn in the … Continue reading

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Part III: Excalibur’s CMBS bonds and B-notes

In the final part of CoStar News’ analysis of Excalibur, we look at the deal’s CMBS bond portfolios and the Windermere XIV B-notes. Excalibur’s CMBS bonds Diversity Funding – outstanding €107.67m CMBS bond balance (Jan IPD) Lehman Brothers bought Northern … Continue reading

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Part II: Excalibur unmasked

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In the second part of a CoStar News insight into Europe’s most beguiling structured real estate finance structure, the underlying borrowers that lay behind the remaining positions are unmasked, which is a reminder of how convoluted Lehman’s real estate strategies … Continue reading

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