Delancey to form consensual JV with LRC Group unlocking Royal Mint Court redevelopment

Delancey is set to announce the formation of a consensual joint venture partnership with LRC Group, ending a near one-year deadlock and triggering a major redevelopment at the iconic Royal Mint Court by Tower Bridge. CoStar News can reveal that … Continue reading →

More than a dozen investors circle over Bizspace’s £120m ‘Project Spring’

Bizspace Group, the logistics and office business space operator, is drawing investor interest in its 97 multi-let properties from a raft of mid-sized private equity funds and specialist operators ahead of first round bids in two weeks. PwC and Savills … Continue reading →

Land Securities closes £1.3bn secured RCF at 75 bps headline margin

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Land Securities has announced a new £1.3bn secured revolving credit facility (RCF) at an initial LIBOR margin of 75 basis points with an initial eight-bank club of international lenders. The initial five year RCF, which Land Securities has an option to … Continue reading →

Europe kick-starts CRE syndication league tables in transparency drive, full 2014 figures revealed

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Recorded secured commercial real estate (CRE) syndicated lending in Europe, the Middle East and Africa (EMEA) reached €28.9bn in 2014, in the inaugural attempt to measure market volumes on a consistent basis with broader global bank syndication markets. ING Syndicated … Continue reading →

Morgan Stanley finances Starwood Property Trust’s €350m Dublin office portfolio

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Morgan Stanley has been selected to finance Starwood Property Trust’s (STWD) maiden equity investment in Dublin, a four-strong office portfolio acquired from Lone Star, with a five-year senior loan of up to €245m. CoStar News understands that the final agreement … Continue reading →

JC Rathbone and Laxfield collaborate on new debt advisory business

JC Rathbone Associates and Laxfield Capital have joined forced to become the latest to set up a bespoke debt advisory business, as the brokerage loan market for UK and European commercial rest estate continues to see new entrants and increased … Continue reading →

Inside Commerzbank’s German €752m NPL as €2.7bn pan-European loan portfolio shortlist emerges

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Commerzbank’s two commercial real estate loan portfolios with a combined outstanding principal balance of just under €3.5bn have progressed to the second phase, as optimism increases that the market price offered and the floor pricing required to convert the prospective … Continue reading →

ING REF completes syndication of The Gherkin’s £365m senior loan

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ING Real Estate Finance has completed the syndication of the £365m senior loan secured by London’s iconic Gherkin skyscraper at 30 St. Mary’s Axe in the City. The seven-year senior loan was priced at 120 basis points over three-month LIBOR, … Continue reading →

Shaftesbury closes first of two Nationwide refinancings with 15 year £150m Aviva loan

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Shaftesbury, the West End-focussed REIT, has refinanced a maturing Nationwide revolving credit facility (RCF) with a £130m 15-year term loan with Aviva Commercial Finance. Aviva’s senior loan is priced at a fixed interest rate of 3.2% throughout the term and … Continue reading →