Monthly Archives: October 2013

Former Lone Star Asian boss and Sunderland Football Club chairman closes return maiden Mayfair buy

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Kildare Partners, the newly-formed private equity firm founded by Lone Star’s former Asian boss Ellis Short, has completed a circa $1.5bn first closing for its maiden real estate opportunity fund and has completed its return maiden investment deal. CoStar News understands … Continue reading

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Lloyds’ €1.5bn Project Hampton shortlists emerge as KPMG’s €7.8bn Project Rock NPL out next week

Lloyds Banking Group has drawn up shortlists for each of the three sub-pools for the €1.5bn Project Hampton Continental European property loan portfolio.  Project Hampton is comprised of three sub-pools – projects Alpha, Bravo and Charlie – split by geography … Continue reading

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Register for CREFC Europe’s two-day Conference next month

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Global real estate finance professionals will gather next month in Canary Wharf for Commercial Real Estate Finance Council Europe’s annual two-day industry Conference to debate the market’s most pressing issues. CREFC Europe’s Conference – hosted by Clifford Chance on 13 … Continue reading

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New cross-industry group seeks mandated centralised CRE loan database in bold market vision

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UK commercial property lenders should be mandated to disclose granular information on all loans in an effort to assemble a comprehensive industry-wide database as the centrepiece proposal of a newly-established cross-industry body. The proposal is part of a raft of … Continue reading

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JPMorgan emerges as £210m underlying financer on Heron Tower

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JPMorgan has emerged as the original majority provider of the £288m five-year senior loan which refinanced the Heron Tower in the City of London, CoStar News has learned. Starwood Property Trust, the US mortgage REIT, provided a £270m five-year loan … Continue reading

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KKR leads junior lender consortium to inject £175m to encourage GHG restructuring

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A consortium of General Healthcare Group’s (GHG) junior lenders, led by private equity firm KKR, is lining up a fresh capital injection of around £175m into the outstanding £1.52bn debt stack, as the centrepiece proposal in a precariously balanced restructuring … Continue reading

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Redefine strikes NAV-accretive debt restructuring agreement with Aviva

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Redefine International (RDI) has agreed to purchase the Weston Favell Shopping Centre out of receivership for £84m financed with a 25-year fixed rate £50m senior loan from Aviva Commercial Finance. In addition, Aviva has agreed to write-down £88m of debt … Continue reading

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Norges and AXA Real Estate tie up for ‘big ticket’ senior debt JV

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Norges Bank Investment Management (NBIM) and AXA Real Estate Investment Managers have entered into a European commercial real estate loan co-investment programme targeting individual large senior loans of up to €600m, marking the entry into senior debt by the world’s … Continue reading

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Exclusive: Part II – Lewis Ranieri on crisis aftermath and US & Europe comparisons

Almost 40 years ago Lewis Ranieri played a pivotal role in establishing a market for publicly traded real estate securities. Originally designed for funding the post-Second World War Baby Boomers’ US housing finance needs, in the subsequent decades residential securitisation … Continue reading

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