Monthly Archives: May 2013

Colliers facing High Court battle over CMBS valuation test case

Colliers International is facing the prospect of trial in the High Court of Justice in London following a claim by the issuer of a securitisation originated by Credit Suisse seven years ago, which is seeking to recover losses to noteholders … Continue reading

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Kennedy Wilson edges out rivals to win Castle Market portfolio for €305m

Kennedy Wilson has offered around €305m in an all-cash bid to win the former Treasury Holdings’ 16-strong Castle Market Dublin City office property portfolio, edging out a very close rival cash-bid by London & Regional and Northwood Investors’ CMBS restructuring … Continue reading

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Alternative De Montfort Analysis: Banks’ worst case UK property debt losses fall to under £7bn

Banks’ UK commercial property loans at risk of loss were less than £7bn at the end of last year, reflecting just 4% of the outstanding £170bn of debt captured by the latest annual De Montfort property lending survey. This £6.88bn … Continue reading

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Trouble at the Co-Op: mutual considers £2.1bn UK property NPL sale

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The Co-Operative Group, the UK’s largest consumer mutual bank, is contemplating selling off its £2.1bn non-core non-performing property loans, in a move which would help stem the bank’s estimated up to £1.8bn capital shortfall and release much-need risk-weighted assets. Morgan … Continue reading

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Deutsche Bank considers sale of Postbank’s €2.5bn UK property loans

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Deutsche Bank is exploring the possible disposal of Deutsche Postbank’s €2.5bn predominantly UK commercial property loan book, which could pave the way for a second multi-billion performing UK property loan book sale this year. Postbank, which is 93.7%-owned by Deutsche Bank, … Continue reading

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British Land secures £290m RCF from seven banks and counting

British Land has secured a £290m five-year revolving credit facility (RCF) from a consortium of seven international banks, as part of a wider debt raising strategy which has seen the UK’s second largest REIT raise as much as £2.8bn over … Continue reading

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LBBW refi’s Mayfair and Brum trophies with £70m five-year loan

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Landesbank Baden-Württemberg (LBBW) has refinanced three assets in Michael and Steven Elghanayan’s EPIC portfolio with a five-year £70m senior loan, in one of three separate deals which amount to just under £250m in total. The three EPIC portfolio assets refinanced … Continue reading

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Blackstone refi’s Chiswick Park with £600m from Deutsche Bank and Apollo ahead of CMBS

Blackstone has refinanced Chiswick Park with a fresh £400m senior loan provided by Deutsche Bank, which is set to be securitised by early June, and a £200m mezzanine facility provided by Apollo Global Management, on behalf of a separate managed … Continue reading

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ANALYSIS: Are NAMA’s single-borrower NPL sales a flawed process?

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Across the Irish Sea, speculation has swept through the commercial property market that NAMA has pulled its next non-performing loan (NPL) portfolio, €235m Project Club, “amid general concerns that borrowers are teaming up with potential buyers which is undermining the … Continue reading

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