Monthly Archives: June 2015

CREFC Europe announces Lloyds Bank’s Madeleine McDougall as chairman elect

CREFC Europe has confirmed today that Lloyds Bank Commercial Banking’s Madeleine McDougall will become the real estate finance trade association’s next chairman. McDougall has joined the board and will begin her one-year term on 9 November 2015, the first day … Continue reading

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Oaktree secures Grupo Lar back bid for Project Gaudi’s Megapark Barakaldo as FMS Wertmanagement considers Netherlands and Italian NPL sales

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Oaktree Capital Management closed the purchase of the reduced FMS Wertmanagement Project Gaudi non-performing loan portfolio paying around €260m all cash, after a back bid sale of the Bilbao shopping centre to Grupo Lar and the removal of two loans prior to … Continue reading

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Goldman to crystallise Spencer Dock profit as Project Trinity second round bidders emerge and BoI sells €162m National Portfolio

Goldman Sachs, NAMA and Hines are selling their combined ownership of Spencer Dock’s Block R in the North Docklands with a guide price of €90m, amid a raft of live Irish direct property sales this summer. Goldman Sachs acquired a … Continue reading

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Värde Partners closes £138m Bizspace deal all-cash and now seeks £90m financing post-closure

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Värde Partners has closed the all-cash purchase of Bizspace Group, the UK provider of flexible business accommodation for approximately £138m. Värde acquired 100% of the shares and assets of the Bizspace group of companies and, through its acquisition, substantially deleveraged … Continue reading

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JPMorgan prices the dual currency Blackstone Mint CMBS

JPMorgan has priced the dual currency the Mint CMBS, the securitisation of a loan which refinanced Blackstone’s rebranded three-strong DoubleTree by Hilton portfolio, achieving blended coupons of 202 and 187 basis points for the sterling and euro tranches, respectively. Final … Continue reading

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Kennedy Wilson’s Ian Goldsworthy joins Lloyds Bank’s commercial real estate listed team

Ian Goldsworthy, European managing director at Kennedy Wilson, has joined the listed client team in the commercial real estate division of Lloyds Bank. Continue reading

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Four finalists prepare to submit bids for NAMA’s €785m Project Maeve as Ulster Bank’s €2.6bn Project Finn progresses

Four finalists have progressed to the final round of NAMA’s €785m Project Maeve non-performing loan (NPL) portfolio, secured by 13 commercial properties and development sites owned by Gerry Barrett. CoStar News understands that Marathon Asset Management, Angelo Gordon, Oaktree Capital … Continue reading

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Blackstone and Deutsche Bank-fronted consortiums compete with Lone Star on €3.6bn Project Neptune

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Banca Comerciala Romana (BCR), Romania’s largest bank and part of the Erste Group, has selected two consortiums and one solo private equity investor to progress to the second round the largest-ever Romanian commercial real estate and corporate non-performing loan portfolio. … Continue reading

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Deutsche Pfandbriefbank to place 75% of share capital via IPO in July

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Deutsche Pfandbriefbank (PBB), the European commercial real estate bank spun out of the State-rescued Hypo Real Estate, has secured approval from the German Financial Markets Stabilisation Agency (FMSA) to return to the private sector through an initial public offering (IPO) … Continue reading

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