Monthly Archives: February 2015

Lloyds Banking Group legacy Irish and UK CRE rump dwindles to £5.1bn

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Lloyds Banking Group reduced its combined gross UK and Irish commercial real estate lending last year by £8bn to just £5.1bn, with the bank finally close to lifting the albatross of its profligate property lending past. In its 2014 annual … Continue reading

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Intu Properties to sell UK mall equity stakes and raise development finance to fund £1.9bn development programme

Intu Properties plans to sell further equity stakes in its existing built UK shopping centre portfolio as well as seek a partner for its Spanish shopping centre in Zaragoza, in a three-part strategy to fund the REIT’s ambitious £1.9bn development … Continue reading

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RBS bad bank sheds one-third of gross CRE loans in 2014 leaving just £12.6bn remaining

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Royal Bank of Scotland shed one-third of its gross lending to commercial real estate held in its internal bad bank, RBS Capital Resolution (RCR), over 2014 through repayments, disposals and write-offs, leaving just to £12.6bn remaining. In its annual results … Continue reading

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Kennedy Wilson eyes expansion into Italy and Spain after £78.5m post-tax maiden annual results

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Kennedy Wilson Europe Real Estate (KWE) eyes an expansion of its European real estate business into Italy and Spain this year, after posting a maiden annual post-tax profit of £78.5m this morning. KWE has achieved the performance through deploying £1.3bn … Continue reading

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Karlin Real Estate tests market appetite with £200m Project Carolus

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Karlin Real Estate has assembled a granular portfolio of 30 secondary UK commercial properties, predominantly acquired piecemeal in under the last two years, for sale with an asking price of £200m. The sale of Karlin’s portfolio, dubbed Project Carolus, will … Continue reading

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British Land secured £485m RCF with headline margins back to pre-crisis levels

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British Land has signed a new £485m five-year unsecured revolving credit facility (RCF) at an initial margin of 90 basis points with a syndicate of seven banks, in the first sub 100 bps headline margin since 2007. CoStar News understands … Continue reading

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Green REIT earmarks €114m for ambitious development programme after reporting forecast-busting NAV growth

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Green REIT has earmarked €114m in total capital expenditure across five development schemes which the Irish REIT will begin this year, forecasting an estimated profit on cost in excess of 30%. After a prolific six months to end 2014 for … Continue reading

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Allianz Real Estate makes Spanish debut with €133m loan for Merlin’s Marineda City

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Merlin Properties has financed the Marineda City shopping centre, the second largest shopping mall in Spain, with a 10-year €133.6m fixed interest rate senior loan from Allianz Real Estate, marking the insurer’s first Spanish commercial property loan. Allianz, who was … Continue reading

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Qatari investors take litigation action against Hatfield Philips over Margaux portfolio sale

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A group of Qatari investors, believed to be ultimately Gulf Finance House and Financiere Centuria, have issued litigation proceedings against Hatfield Philips International (HPI) over the sale of the Margaux German multi-family property portfolio to IN-WEST Partners for €268m in … Continue reading

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