Monthly Archives: February 2015

Kennedy Wilson closes Natixis-led Park Inn hotel NPL portfolio win paying £61.5m

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Kennedy Wilson Europe Real Estate (KWE) has completed the all-cash acquisition of a Natixis-led non-performing loan (NPL) portfolio for £61.5m, secured by eight UK Park Inn hotels leased to Rezidor Hotel Group. The Park Inn NPL is comprised of six … Continue reading

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Starting gun fired for sale or IPO of Deutsche Pfandbriefbank

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The sale process of Deutsche Pfandbriefbank (PBB) has officially started after Hypo Real Estate Holding (HRE), the German government-owned parent company, announced the initiation of a two-track re-privatisation strategy today. HRE has appointed Citigroup and Deutsche Bank as financial advisors … Continue reading

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NAMA appoints Cushman & Wakefield to sell mega €8.4bn Project Arrow NPL

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NAMA has appointed Cushman & Wakefield’s Corporate Finance team to sell the giant €8.4bn Project Arrow non-performing loan (NPL) portfolio, as the Irish bad bank accelerates its remaining wind-down.  Project Arrow will be the largest loan portfolio sale in NAMA’s … Continue reading

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Kennedy Wilson buys LinkedIn’s HQ for €45m from Deutsche Bank’s Project Spring NPL

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Kennedy Wilson Europe Real Estate (KWE) has completed the purchase of LinkedIn’s European headquarters, Gardner House in Dublin city centre, for €45.0m after converting a loan from Deutsche Bank’s Project Spring non-performing loan (NPL) portfolio into direct ownership. Deutsche Bank … Continue reading

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Tishman Speyer secures £90m financing for 50%-let 100 New Oxford Street from BNP Paribas

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Tishman Speyer Properties has financed its £130m acquisition of 100 New Oxford Street with a two-tranche £90.4m six-year loan from BNP Paribas Corporate and Institutional Banking. Hermes Real Estate and Canada Pension Plan Investment Board sold the 103,500sq ft office … Continue reading

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Lone Star closes £1bn Moorfield ‘Project Laser’ portfolio financed by £593m RBC and Wells Fargo loan

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Lone Star has completed the acquisition of a portfolio of mixed-use UK secondary properties from Moorfield’s first maturing two private equity funds for just under £1bn, financed with a £593m whole loan from RBC Capital Markets and Wells Fargo. RBC and … Continue reading

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CoStar 2014 UK Investment Review: UK commercial property investment breaks all records

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Investment in UK commercial property hit a high watermark in 2014 with £70.7bn traded, according to CoStar’s newly released Q4 and 2014 UK Investment Review, writes Francesca Cooke. £70.7bn was invested in UK commercial real estate in 2014, a 32% … Continue reading

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HPI circumvents Bridge loan replacement threat raising prospect of €340m German office portfolio sale

Hatfield Philips International (HPI) looks to have circumvented the long-running threat to its mandate as special servicer for the Windermere X Bridge Whole Loan after striking a recovery-related deal with B-Loan owner, Davidson Kempner, CoStar News understands.   Davidson Kempner … Continue reading

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European new lending in 2014 rose 55% to c.€65bn as loan market transparency improves

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European real estate new lending increased by around 55% to around €65bn in 2014, based on estimates implied from Cushman & Wakefield data, driven by increased lending capacity and a 32% increase in transaction volumes to €218bn. In a report … Continue reading

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