Monthly Archives: September 2012

RBS prices £463m Isobel Finance today and places £290m

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Royal Bank of Scotland has priced and placed £290m of the outstanding £463m Project Isobel debt this afternoon in the first European securitisation of a loan secured by a commercial property loan portfolio in almost six years. RBS has securitised … Continue reading

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IVG takes currency hit on five-bank Gherkin loan

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IVG Immobilien, the joint venture partner of the Gherkin office tower, needs to raise up to £75m in fresh equity from investors to plug a currency liability in the Swiss franc loan securing the City of London trophy, driven by … Continue reading

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Pearsanta abandons High Court challenge over Noel Smyth’s Alburn CMBS

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Pearsanta, the special purpose vehicle established by Vincent Barratt, has abandoned the High Court challenge against N M Rothschild & Sons and US Bank Trustees Limited over the appointment of Solutus Advisors as special servicer on the defaulted Alburn Real … Continue reading

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IPD Slotting Paper: banks could reclassify property loans as corporate debt

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Banks and borrowers could start to reclassify investment property lending as corporate loans to side-step the slotting regime’s onerous capital reserve requirements, an authoritative research paper on the controversial regulatory regime suggests. IPD has this morning published a first-of-its-kind research … Continue reading

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Deutsche Bank to run £550m Project Thirteen Holiday Inn refi

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Deutsche Bank has won the mandate to raise £550m in senior and mezzanine debt to refinance the maturing debt on GIC Real Estate and LBREP’s 61-strong Holiday Inn hotel portfolio, in a transaction dubbed Project Thirteen, CoStar News can reveal. … Continue reading

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Deutsche Annington searches for new CEO as Wijnand Donkers steps down

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Deutsche Annington, Germany’s largest residential real estate company, has begun the search for a successor to departing chief executive officer Wijnand Donkers, who stepped down this morning after six years at the helm. Robbie Barr, deputy chairman of Deutsche Annington’s … Continue reading

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Deutsche Bank prices €754m FLORE 2012-1 CMBS

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Deutsche Bank priced the long-awaited Vitus Immobilien German multi-family agency CMBS on Friday evening, a five-year €754m securitisation of 28,859 residential apartments in a transaction dubbed FLORE 2012-1.  CoStar News was the first news service to report this. FLORE is … Continue reading

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Lone Star, MSREF and Cerberus/Blackstone vie for Germany’s €1.2bn TLG Immobelien

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Three final round bids were submitted this week for TLG Group’s €1.2bn-valued commercial property subsidiary, as Germany’s Finance Ministry seeks to privatise the company by the end of the year. Lone Star, Morgan Stanley Real Estate Funds (MSREF) and a … Continue reading

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JLL and Eastdil bring Lehman securitised 90 Long Acre to market for £170m

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Jones Lang LaSalle and Eastdil Secured have been appointed to sell 90 Long Acre in Covent Garden for an expected £170m, which will likely prompt the early repayment of the £123m outstanding debt ahead of its maturity in just over … Continue reading

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