Monthly Archives: January 2015

Lone Star appoints Eastdil to raise €400m to refinance stabilised Dublin office portfolio

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Lone Star is refinancing a portfolio of Dublin offices, including Iveagh Court Complex and 75 St Stephen’s Green, and is seeking up to €400m in a five-year term senior or whole loan. Eastdil Secured has been appointed to refinance several … Continue reading

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BAML prices Taurus 2015–1 IT CMBS at sub-190 bps blended coupon

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Bank of America Merrill Lynch (BAML) has priced the private equity-sponsored €286.425m Taurus 2015–1 IT securitisation this afternoon at a blended coupon of 186 basis points. Taurus 2015–1 IT is the securitisation of three commercial real estate loans – one … Continue reading

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Mixture of macro and regulatory influences are driving banking liquidity for CRE across Europe

A cocktail of counteracting macro and regulatory influences are influencing banking liquidity for real estate finance throughout Europe at the early point of this year which in turn is impacting on global capital flows into the sector, asset prices and … Continue reading

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Sterne Agee hires Inna Zhuranskaya as MD sourcing high yield and distressed debt

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Sterne Agee, the privately-owned US financial services firm, has hired former Deutsche Bank and Merrill Lynch banker Inna Zhuranskaya as a managing director. Zhuranskaya, who joined earlier this month after two and a half years with Krestco Holdings, is responsible … Continue reading

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Blackstone to acquire Cannon Bridge House through B-Loan purchase from Fortress

Blackstone is on the brink of securing a £170m purchase of Cannon Bridge House in the City of London, through the acquisition of the B-Loan underneath the securitised debt from Fortress Investment Group. Blackstone will today complete the purchase of … Continue reading

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Europe’s loan portfolio sales top €80bn in 2014’s high watermark year

More than €80bn in European real estate loans was sold last year as the market for legacy loan portfolios disposals reached a high watermark in the present de-leveraging era, according to newly-published data by C&W Corporate Finance in London. C&W … Continue reading

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Cromwell Property Group buys Valad Europe for €145m

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Cromwell Property Group, the Australian REIT, last night announced the acquisition of Valad Europe for €145m, financed by the issuance of a euro-denominated €150m convertible bond. The purchase price reflects an EBITDA multiple of approximately 6.4x. The sale to Cromwell … Continue reading

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BAML issues initial pricing guidance for Italian private equity CMBS

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Bank of America Merrill Lynch (BAML) has issued initial pricing guidance on its first European commercial real estate securitisation of the year – the private equity sponsored €286.425m Taurus 2015–1 IT. The transaction is the securitisation of three commercial real … Continue reading

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ECB’s €1.1trn QE programme will trigger ‘second order’ effects for European CRE

The European Central Bank’s larger-than-anticipated €1.1 trillion bond-building programme over the next 18 months will trigger second order effects in Europe’s commercial property debt and equity markets. ECB president Mario Draghi’s announcement yesterday surprised the market on the scale of … Continue reading

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