Monthly Archives: November 2012

Wave of European small cap de-listings and M&A activity forecast next year

Next year could see a wave of small cap European property companies de-listing from stock markets, predicts Morgan Stanley, as the benefits from operating as a public company continues to polarise according to size. Reduced liquidity in equity markets as … Continue reading

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Kennedy Wilson buys Ruby portfolio for £57.5m

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Kennedy Wilson has emerged as the winning bidder for the 29-strong Ruby portfolio paying £57.5m, bringing to a closure the fate of the widely-contested former Alburn Real Estate portfolio. Savills, the LPA receiver appointed by primary servicer Rothschild on the … Continue reading

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Lloyds assembles €850m Project Chamonix NPL

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Lloyds Banking Group has assembled the €850m predominantly German Project Chamonix non-performing loan portfolio, as the de-leveraging bank continues to utilise NPL portfolio sales as the most effective way to industrialise its legacy commercial real estate lending exit. Project Chamonix … Continue reading

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Crosstree and Helical Bar partner for HSBC-financed Old Street scheme

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Crosstree Real Estate Partners and minority joint venture partner Helical Bar have acquired four buildings adjacent to the Old Street Roundabout for £60.75m, financed with a £30.375m five-year development loan from HSBC. The 287,000 sq ft freehold interest includes two … Continue reading

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Consortium kick-starts eventual European ‘De Montfort-style’ lending survey

A five-strong consortium of real estate firms are to collaborate with the University of Regensburg to analyse trends in the German commercial property lending markets, in the first step towards a pan-European survey akin to the UK’s De Montfort University … Continue reading

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Pyrrho calls for FSA inquiry into MWB Group administration

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Pyrrho Investments, a 24.5% shareholder in listed hotels and serviced office investor MWB Group Holdings, has backed calls for an FSA investigation into the events leading up to the appointment of administrators one week ago. MWB Group Holdings, which until … Continue reading

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Finalists vie for former Alburn REC 6 CMBS ‘Ruby’ portfolio

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Irvine Sellar’s Sellar Property Group, Isle of Man-based Praxis Real Estate, Legal & General Property, Threadneedle Investments and Kennedy Wilson comprise the five-strong shortlist which submitted second round bids vying to purchase the 29-strong UK distressed Ruby portfolio, CoStar News … Continue reading

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Paul Marcuse leaves UBS AM after six years

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Paul Marcuse is leaving UBS after almost six years as the Swiss investment bank’s head of global real estate and will be replaced by current chief operating officer Thomas Wels. Marcuse has been group managing director since 2007, and has … Continue reading

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BlackRock hires Blackstone trio for European infrastructure debt push

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BlackRock has hired three-strong senior team from Blackstone to establish a European infrastructure debt division with an initial focus on investment grade new origination and secondary loan acquisitions from de-leveraging banks. Philippe Benaroya, Chris Wrenn and Gilles Lengaigne have joined … Continue reading

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