Monthly Archives: February 2014

Deutsche Annington’s €1.4bn Vitus buy expects to trigger 2014 refinancing

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Deutsche Annington’s €1.4bn acquisition of Vitus Group’s near 30,000-strong German multifamily portfolio is expected to trigger the repayment and refinancing of the inherited complex €1.35bn debt structure in time for the deal’s closure in the fourth quarter, CoStar News understands. … Continue reading

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GRI’s inaugural Spanish CRE conference in Madrid in May

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GRI has launched its inaugural annual Spanish-focussed commercial real estate conference and has now published the two-day conference agenda which takes place in just under two months. España GRI 2014 will be held over 20-21 May at Hotel Wellington in … Continue reading

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RBS transfers more than £10bn commercial property loans to new bad bank

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Royal Bank of Scotland has transferred more than £10bn of non-core commercial real estate loans to its new internal bad bank, RBS Capital Resolution (RCR), which is targeted for an accelerated run-down over the next three years through asset and … Continue reading

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Lone Star wins £5.2bn of IBRC’s Project Rock and Salt loans at above 30% discount

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Lone Star has won the entire two-tranche Project Salt and 12 of the 14-tranche Project Rock legacy IBRC commercial property loan books with a combined face value of just over £5.2bn for a discount to gross unpaid balance of greater … Continue reading

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Lone Star and Sankaty/Canyon Capital win €7bn Project Rock and Salt in separate trades

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KPMG has confirmed this morning that the majority of the combined €7bn Project Rock and Salt have been won in separate trades to Lone Star and a consortium including Sankaty Advisors and Canyon Capital Advisors. Kieran Wallace and Mr. Eamonn … Continue reading

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KPMG secures CCMA servicing pledge from €1.8bn Project Sand finalists

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KPMG, the special liquidators of IBRC, has sought to allay the anxieties of owners of legacy Irish Nationwide mortgages which have spun into the €1.8bn Project Sand loan portfolio that all final round bidders have agreed to adhere to best … Continue reading

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Kennedy Wilson raises £910m through IPO for diverse equity and debt investments

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Kennedy Wilson Europe Real Estate (KWE) has raised £910m in its initial public offering (IPO) with a diversified mandate across direct real estate acquisition, loan purchases and origination as well as securitisations of loan pools throughout the UK, Ireland and … Continue reading

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CREFC Europe hosts CMBS seminar next week and launches preliminary Spring Conference programme

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CREFC Europe is to host a morning seminar next week on the outlook for the European CMBS market, with a senior panel comprised of issuing banks and note buyers. Separately, CREFC Europe’s two-day Spring Conference programme is out now. Opportunities … Continue reading

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Analysis: how to sell a loan portfolio like NAMA’s €3.5bn Project Eagle

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NAMA’s launch of the potential sale of its Northern Irish property loan portfolio could solve an enormous problem for the Irish bad bank in one sale, but how would a deal work and what is the likelihood of a sale? … Continue reading

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