Cerberus wins Ulster Bank’s giant Project Aran and NAB’s Project Henrico

Cerberus Capital Management has won Ulster Bank’s giant Project Aran non-performing loan portfolio and National Australia Bank’s Project Henrico, completing a sweep of four major commercial real estate (CRE) loan portfolio wins in the last week. Royal Bank of Scotland … Continue reading →

Commerzbank considers two ‘Eurohypo’ loan portfolio sales in New Year with up to €3.8bn in legacy loans

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Commerzbank is considering the sale of two further major European commercial real estate (CRE) loan portfolios in the New Year with a combined unpaid value of almost €4bn, CoStar News understands, in what is expected to be a bumper year … Continue reading →

De Montfort Survey: Alternative lenders coming of age as new lending rises to six-year high

The level of new commercial property lending in the UK accelerated to £19.6bn over the first half of the year, the highest six-month new origination volumes since 2008, with insurers and debt funds accounting for almost a quarter of all … Continue reading →

Cerberus beats Oaktree to win Nationwide’s Project Carlisle

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Cerberus Capital Management has won Nationwide’s Project Carlisle paying just above £680m for the UK commercial property loan portfolio, fending off Oaktree Capital Management in a tightly-contested blind bidding process.    Nationwide, advised by Deloitte on the Project Carlisle sale … Continue reading →

Cerberus acquires Project Mermaid NPL from Denmark’s bad bank

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Cerberus Capital Management has acquired a portfolio of non-performing loans from 360 separate borrowers, predominantly backed by commercial real estate in Denmark, from Finansiel Stabilitet, the country’s state-backed bad bank. The nominal value of the loan portfolio, dubbed Project Mermaid, … Continue reading →

Deutsche Bank prices €680m IVG ‘BONN’ CMBS at under 200 bps

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Deutsche Bank has closed the €679.9m DECO 2014 BONN securitisation achieving a blended margin of 199 basis points across the six classes of notes. The achieved blended margin reflects a 41 basis points less than the 240bps margin which Deutsche Bank … Continue reading →

NAB receives trio of offers on off-market £1bn Project Henrico loan portfolio

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National Australia Bank (NAB) has received bids for the off-market sale of approximately half of the listed Australian bank’s remaining UK commercial real estate (CRE) loan book from the three finalists from its maiden UK loan portfolio sale process. CoStar … Continue reading →

Brookfield secures £280m Santander-led development loan for new Amazon HQ

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Brookfield Office Properties has agreed a £280m development loan for Principal Place to finance the construction of the 15-storey office block over 600,000 sq ft on the border of Liverpool Street and Shoreditch. Santander is the agent on the three-bank … Continue reading →

ING REF to refinance Safra’s The Gherkin with £365m loan

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Safra Group, the company controlled by Brazilian billionaire Joseph Safra, has secured a seven-year £365m senior loan with ING Real Estate Finance to refinance the initial all-cash acquisition of The Gherkin, CoStar News can reveal. ING was one of the … Continue reading →