Monthly Archives: July 2014

Värde Partners wins NAMA’s Acorn portfolio for over €170m

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Värde Partners has won the race to buy three provincial Irish shopping centres from NAMA for more than €170m – 30% above the initial asking price – in the first significant post-crisis price discovery for the sector. CoStar News has … Continue reading

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Kennedy Wilson buys Ulster Bank’s Elliott loan and Marshes Shopping Centre for €120m

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Kennedy Wilson Europe Real Estate (KWERE) is to acquire Ulster Bank’s Elliott loan portfolio, secured by a 13 properties in Ireland, and separately the Marshes Shopping Centre in Dundalk for a combined cash price of €120m. The Elliot loan portfolio, … Continue reading

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Endgame in sight for Lloyds’ real estate deleveraging:  UK and Irish books fall to £8.5bn

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Lloyds Banking Group’s non-core legacy UK and Ireland commercial property loans have shrunk to around £8.5bn, after the a further run-off of approximately £4.2bn over the first half of this year. Over the six months to the end of June, … Continue reading

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Oaktree and Patrizia weigh up terms sheets for £352m MEPC financing ticket

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Oaktree Capital Management and Patrizia have received wide interest from across the spectrum of lenders for the circa £352m financing of the three-strong MEPC UK business park portfolio, in what has become the summer’s most competitive financing mandate. Just under … Continue reading

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NAMA launches five-strong Irish retail parks portfolio seeking €110m

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NAMA has launched the sale of the Parks portfolio, comprised of five retail parks throughout Ireland, through investment sales agents CBRE and DTZ Sherry FitzGerald with a guide price of €110m. CoStar News first ran a story on the Parks … Continue reading

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Chartered Land appoints Key Capital’s Andrew Gunne as chief executive

Andrew Gunne has been appointed as the new chief executive of the property development and investment group Chartered Land. Gunne joins Chartered Land from Key Capital Real Estate, where he was co-founder and managing director having previously worked with CB … Continue reading

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Credit Agricole CIB and DB launch agency £750m Westfield Stratford shopping centre CMBS

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Credit Agricole CIB and Deutsche Bank have launched the single-tranche, investment grade securitisation of a £750m senior loan backed by the £1.95bn Westfield Stratford City shopping centre, in the largest UK CMBS in recent years. CA CIB and Deutsche Bank … Continue reading

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Deutsche Bank pays c.€145m for NAMA’s Project Spring

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Deutsche Bank has won NAMA’s Project Spring for around €145m, with the keenest underbidder on price thought to have been Kildare Partners, CoStar News understands. Project Spring is comprised of €427m of property loans extended to Irish property developer Gerry … Continue reading

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National Australia Bank confirms disposal of Project Chestnut to Cerberus

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National Australia Bank (NAB) has this morning confirmed the disposal of £625m of UK non-performing commercial real estate loans to Cerberus Capital Management. Confirming CoStar News’ exclusive from Thursday evening, NAB reported to the Australian Stock Exchange that the loan … Continue reading

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