Monthly Archives: December 2013

Lloyds and Citi syndicate Peel’s MediaCityUK £325m loan to AIG and ING

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Lloyds Bank and Citi have syndicated the majority of the £325m five-year senior loan secured by Peel Group’s MediaCityUK, the home of the BBC’s Northern headquarters, to AIG and ING Real Estate Finance, CoStar News understands. Lloyds refinanced the maturing … Continue reading

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Ivanhoe Cambridge and Grupo Lar refi Islazul as banks look to Spain for relative value

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Ivanhoe Cambridge and Grupo Lar have refinanced their joint venture Spanish shopping centre, Islazul, with a €97.5m five-year senior loan from West Immo, Natixis and BAWAG, as the country’s beleaguered banking market shows signs of nascent stabilisation. West Immo and … Continue reading

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Four lenders complete £450m Radisson Blu Edwardian and May Fair hotel refinancing

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Edwardian Group London, the family-owned Radisson Blu Edwardian and May Fair hotel business run by Jasminder Singh, has refinanced £450m of maturity debt across four ring-fenced bilateral loans across varying durations. MetLife, the US insurance lender, has extended the largest … Continue reading

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Rory Cullinan appointed to run RBS’ £38bn internal bad bank

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RBS has appointed Rory Cullinan, the bank’s non-core chief executive, to head up the newly-created internal bad bank, RBS Capital Resolution (RCR). The new division will include RBS Capital Resolution (RCR) responsible for the accelerated rundown of £38bn of assets. … Continue reading

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UBS fund sells DoLy to ADIA for €672m at a near 10% discount

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Abu Dhabi Investment Authority (ADIA) has completed the acquisition of Docks Lyonnais S.A. (DoLy), the former French REIT owned by a UBS Wealth Management fund, for €672m, in a deal which closed last Thursday, CoStar News can reveal. The sale … Continue reading

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Legacy property loans still in default fall to £17bn, latest De Montfort survey reveals

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The proportion of property loans in breach of their financial covenants fell to just £17bn by the end of the first half of this year, reflecting just 9% of the total debt secured against real estate, underlining the continued gradual … Continue reading

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KPMG confirms all project Salt and Rock tranches progress to phase two bidding stage

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KPMG has announced this afternoon that all tranches of projects Salt and Rock, with a combined unpaid balance of €7.3bn, have progressed to the second round phase, implying sufficient bids have been received at above or near to prescribed hurdle … Continue reading

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2014 Forecast: European CMBS issuance to reach €15bn as market passes inflection point

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European CMBS issuance next year is forecast to reach the €15bn mark next year, according to three leading investment bank research teams, which would nearly double the modest rebound in capital markets this year. This year has marked the effective … Continue reading

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Battle for Dublin’s Central Park: Irish REITs each submit JV offers as bidders emerge

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Ireland’s two new REITs, Green and Hibernia, headline the list bidding for Dublin’s sprawling Central Park office, multi-family and development complex with separate joint venture partners after more than half a dozen investors submitted first round bids today. Green REIT … Continue reading

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