Monthly Archives: October 2012

Almost €10bn raised for debt strategies as winning mandates toughens

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Almost €10bn has been raised over the last three years across 19 senior, mezzanine and separate account European-focused debt strategies, according to new research by INREV, although the environment for capital raising is proving increasingly difficult. Around half of this total … Continue reading

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UK banks’ proportional lending to real estate falls to decade low

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UK bank exposure to real estate debt as a proportion of total lending fell to 8.4% in the third quarter of 2012, the lowest level since 2002, according to the latest Bank of England quarterly lending figures. While total lending … Continue reading

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Morgan Stanley eyes return to European senior lending next year

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Morgan Stanley is considering a return to European real estate lending as soon as the first quarter of next year with a business plan under discussion internally which could pave the way for an origination model supported by partial syndication … Continue reading

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Spain’s SAREB to buy up to €110bn in property and loans at 50% discount

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Spain’s new bad bank, dubbed Asset Management Company (AMC), will transfer around €100bn to €110bn in foreclosed real estate assets and defaulted loans in the first two waves of acquisitions at carrying value of between €50bn to €55bn, reflecting a … Continue reading

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Lloyds lines up four-strong €2.2bn Project Pittlane NPL shortlist

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Lloyds Banking Group has selected two consortia and two standalone individual private equity bids to contest the giant €2.2bn two-part Irish Project Pittlane commercial loan portfolio. Kennedy Wilson, Deutsche Bank, Och-Ziff and Varde Partners comprise the first of the two … Continue reading

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Thor Equities’ 65 Croisette buy financed by €71m in Heleba senior and LaSalle mez

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Thor Equities, the global urban real estate developer and management firm, has acquired prime retail parade on Boulevard de la Croisette in Cannes from the liquidating KanAm grundinvest Fund, financed by a €50m Helaba senior loan and a €21m mezzanine … Continue reading

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Deutsche Annington closes in on GRAND-stand finish

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Deutsche Annington is nearing the finish line in securing the approval of bondholders to refinance almost €4.5bn in CMBS debt across the next five years. Yesterday afternoon, Deutsche Annington, through its CMBS securitisation vehicle, confirmed that 44% of bondholders had … Continue reading

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Starwood Capital buys LNR Property for $1bn

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Starwood Capital Group has acquired LNR Property for more than $1bn, in a strategic acquisition which will strengthen the private equity firm’s position to buy distressed real estate debt on both sides of the Atlantic.  LNR Property is the largest … Continue reading

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Four shortlisted for Lloyds’ £778m Project Forth (updated)

Lloyds Banking Group has shortlisted four parties for its third UK non-performing loan (NPL) portfolio – the nominally-valued £778.6m Project Forth, CoStar News understands. The shortlisted parties, who are understood to have been informed last Friday, are Kennedy Wilson and Deutsche … Continue reading

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