Monthly Archives: October 2014

Bank of China joins Great Portland Estates’ £450m seven-bank RCF

Great Portland Estates has signed a new £450m unsecured revolving credit facility (RCF) with a group of seven banks including new relationships with Bank of China and Wells Fargo. The additional five banks are: RBS, Santander, HSBC, Lloyds Bank and … Continue reading

Gallery | Leave a comment

The Great £2.7bn end of year UK portfolio sell-off frenzy

Around £2.7bn of UK commercial property is up for sale across more than a dozen live portfolio deals, with the vast majority of vendors targeting an end of year disposal as they seek to capitalise on the feeding frenzy driven … Continue reading

Gallery | Tagged , , , , | Leave a comment

ECB’s AQR identifies €53bn of new real estate NPLs, taking European tally to €370bn

This gallery contains 2 photos.

The European Central Bank’s Asset Quality Review (AQRs) has identified a further €52.8bn in real estate non-performing loans (NPL) among the 130 participating banks, taking the total real estate NPLs as of the end of 2013 to €371.1bn. As part … Continue reading

Gallery | Tagged , | Leave a comment

RBS upsizes Project Aran to €6bn with retained three finalists

This gallery contains 1 photo.

Royal Bank of Scotland has upsized its Irish non-performing real estate loan portfolio, Project Aran, by €4.3bn to approximately €6.0bn, with the same three-strong finalists now to bid across the enlarged NPL. RBS took the decision almost two weeks ago … Continue reading

Gallery | Tagged , , , | Leave a comment

FMS WM launches c.€750m Project Gaudi in maiden European loan portfolio sale

This gallery contains 1 photo.

FMS Wertmanagement (FMS WM) has launched the sale of its first European commercial real estate (CRE) loan portfolio four years after the bad bank was established to wind-up legacy Hypo Real Estate assets and derivatives. Cushman & Wakefield’s Corporate Finance … Continue reading

Gallery | Tagged , , , | Leave a comment

Ulster Bank selects three-strong shortlist on €1.7bn Project Aran

This gallery contains 1 photo.

Ulster Bank has selected a three-strong shortlist to progress to the second round its third Irish non-performing real estate loan portfolio, the €1.7bn Project Aran. CoStar News understands that Lone Star and Cerberus are both through as well as a consortium … Continue reading

Gallery | Leave a comment

Resolution Property plans £800m investment spree over next two years

This gallery contains 1 photo.

Resolution Property, the pan-European real estate investor, is to invest up to £800m in assets across Europe over the next two years, targeting the UK, Netherlands, Germany and Poland. The £800m acquisition plan for Resolution Property’s fourth fund is backed … Continue reading

Gallery | Tagged | Leave a comment

Kennedy Wilson Europe closes £351m fresh capital raising

Kennedy Wilson Europe Real Estate (KWE) has completes its second capital raising program, raising £351.5m in gross gross proceeds through issuing 34.94m new shares at £10.06 per new ordinary share. The enlarged issued share capital of KWE will be 135,163,725 … Continue reading

Gallery | Tagged | Leave a comment

Green REIT closes protracted Cosgrave €375m ‘Sapphire’ portfolio buy

This gallery contains 1 photo.

Green REIT has completed the protracted €375m acquisition of the Sapphire portfolio after vendor Cosgrave agreed a discounted pay-off on the defaulted debt which secured the Dublin office and retail portfolio. The protracted closure of the Cosgrave property portfolio has … Continue reading

Gallery | Tagged , , | Leave a comment