Monthly Archives: April 2015

Spanish insolvency law changes are spooking NPL investors which threatens to depress pricing of legacy loans

Revisions to Spanish insolvency law designed to curb the scale of liquidations across the broader economy is threatening to spook international investors competing on commercial real estate non-performing loans in the country. The latest amendment to the Spanish Insolvency Act … Continue reading

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Wells Fargo provides £200m to WELPUT across term and RCF tranches

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WELPUT, a specialist fund investing in central London offices, has secured a £200m 50:50 term and revolving credit facility with Wells Fargo. The facility comprises the £100m term loan already drawn together with a revolving credit facility (RCF) of £100m, … Continue reading

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BAML prices TAURUS 2015-2 DEU CMBS at below 200bps blended coupon

Bank of America Merrill Lynch has priced the €445m TAURUS 2015-2 DEU CMBS at a blended coupon of just under 200 basis points, excluding fees. Final pricing down the capital structure and subscription demand were as follows:       … Continue reading

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Blackstone finances Cannon Bridge House with £120m BNP Paribas senior loan

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Blackstone has financed the purchase of Cannon Bridge House with a five-year £120m senior loan from BNP Paribas Corporate and Institutional Banking. The five-year facility reflects a circa 72% loan-to-cost (LTC), based on a purchase price of £170m. Blackstone acquired … Continue reading

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Tim Knowles offers £88m DPO for Lea Valley loan following event of default

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Tim Knowles, the property investor and borrower behind Lea Valley, has proposed a revised offer to win back control of the 24-strong property portfolio through his real estate investment, asset management and receivership firm, First Investments Limited. In a letter … Continue reading

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QIA finances HSBC Tower with £705m senior loan from three relationship banks

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Qatar Investment Authority (QIA), the sovereign wealth fund with reported assets under management of around $300bn, has financed the acquisition of HSBC’s global headquarters in Canary Wharf with a £705m senior loan from three relationship banks. The five-year £705m senior … Continue reading

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Lloyds recruits Helaba’s Klaus Betz-Vais as a director

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Lloyds Bank has recruited Helaba’s Klaus Betz-Vais as a director in the commercial real estate lending division’s institutional clients team. Betz-Vais spent almost five years at Helaba, prior to which he was a vice president in Wachovia’s real estate structured … Continue reading

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BAML issues initial pricing guidance for €445m ‘The Squaire’ CMBS

Bank of America Merrill Lynch has issued initial pricing guidance for its the €445m five-year TAURUS 2015-2 DEU CMBS, the securitisation of a loan secured by IVG Immobilien’s The Squaire at Frankfurt airport. The capital structure is as follows:   … Continue reading

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Citigroup funds £390m loan for Greystar’s Nido purchase today

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Citigroup will today fund a five-year £390m senior loan to finance Greystar Real Estate Partners’ £600m acquisition of Nido London, a three-strong high-end student accommodation portfolio. Pricing on new Citigroup term loan is around 185 basis points over three months … Continue reading

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