Monthly Archives: March 2013

Friends Life selects BlackRock on £365m loan pool and nears £700m debt mandate award

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Friends Life, the UK pensions, investments and insurance company, has replaced AXA Investment Managers with BlackRock on a £365m private loan portfolio, and is separately understood to be near to awarding a segregated UK senior debt mandate for up to … Continue reading

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AIB runs off €3.2bn since €20bn NAMA transfer as loan quality deteriorates

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Allied Irish Bank (AIB) reduced its property and development loan exposure by €2.24bn in 2012, to €22.25bn, and by €3.16bn since the transfer of €20bn of loans to NAMA in 2009, as the quality of the loan book deteriorated last … Continue reading

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AIG and Goldman Sachs head five-lender Gagfah €2bn refinancing

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AIG and Goldman Sachs head a five-strong club of lenders alongside three German pfandbrief banks to refinance more than €1bn of Gagfah’s maturing €2.06bn securitised debt, CoStar News understands, as part of a wider refinancing strategy to diversify the sources … Continue reading

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Lloyds selects three-strong shortlist for £495m Project Thames

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Lloyds Banking Group has selected Apollo Global Management, a joint Kennedy Wilson and Deutsche Bank bid, and Cerberus Capital Management as the finalists on the £495m Project Thames UK commercial property loan portfolio, CoStar News can reveal. Project Thames’ unpaid … Continue reading

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Blackstone finances UK logistics pool with £63m from Wells and LaSalle

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Blackstone has pooled together seven UK regional distribution warehouses worth around £95m within its LogiCor pan-European logistics subsidiary and financed the portfolio with a five-year £63.3m senior and mezzanine financing package from Wells Fargo and LaSalle Investment Management. Wells Fargo … Continue reading

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Commerzbank eyes “opportunistic portfolio disposals” at Hypothekenbank Frankfurt

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Commerzbank’s Hypothekenbank Frankfurt continues to eye “opportunistic portfolio disposals” as part of its wider plans to halve its €54bn European commercial property loan book in the next four years, the bad bank subsidiary stated this morning in its annual results. … Continue reading

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Pacific Life and Pricoa in talks to refi Safra’s Plantation Place with £280m

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Moise Safra, the Brazilian banking mogul who acquired Plantation Place last May, has lined up US real estate insurance lenders Pacific Life and Pricoa Mortgage Capital Group to refinance the City of London trophy asset with a combined £280m, CoStar News … Continue reading

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KPMG selects four-strong panel to re-value IBRC’s €7.9bn UK loan book

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IBRC’s appointed joint special liquidator, is expected to appoint Savills, Jones Lang LaSalle, Allsop & Co and CBRE as the panel of valuers to re-value the assets underlying the IBRC €7.88bn UK commercial property loan book. Real Estate Capital, which reported the news … Continue reading

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Existing lenders compete to buy Blackstone’s former Interhotel group

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Brookfield Asset Management, Benson Elliot and i-Star Financial are expected to be among bidders to submit offers at the end of March for Blackstone’s insolvent Deutsche Interhotel (DIH) group, the 10-strong hotel portfolio in Eastern Germany which is expected to … Continue reading

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