Monthly Archives: July 2015

Deutsche Bank wins NAMA’s Project Arch for €164m

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Deutsche Bank has won NAMA’s €608m Project Arch non-performing loan portfolio paying €164m, CoStar News has learned. The price suggests a discount of 73% based on the original principal balance. NAMA has completed a busy week after defining a final … Continue reading

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JP Morgan tops CRE bookrunner league table for first half of 2015

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Syndicated lending to real estate in Europe, the Middle East and Africa (EMEA) of €27.6bn in the first half of 2015 was driven by JP Morgan’s €6.25bn bridge loan to support Deutsche Annington’s Gagfah takeover – the largest syndicated loan … Continue reading

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Battle for Dundrum Town Centre narrows to five

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NAMA has selected a five-strong shortlist for its €2.4bn Project Jewel loan portfolio, as the battle for the 1.3m sq ft Dundrum Town Centre narrows to five. Allianz Real Estate, Hines, Hammerson, Davidson Kempner and Colony Capital are all believed … Continue reading

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Goldman Sachs, CarVal Investors and BoI win Lloyds’ Project Poseidon for €1.2bn

Goldman Sachs, CarVal Investors and Bank of Ireland have shared the spoils of Lloyds Banking Group’s final Irish commercial property loan portfolio, paying £827m (€1.18bn) for Project Poseidon, virtually completing the bank’s withdrawal from Irish commercial property lending. Lloyds said in a … Continue reading

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Lone Star’s Quintain strike capitalises on London resi market interest rate fears

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Lone Star’s offer for Quintain Estates and Development, valuing the listed London property investor and developer at £904m, capitalises on equity markets’ fears of near-term interest rate rises and the long-term volatility of the London residential market.  The offer comprises … Continue reading

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NAMA weighs up indicative bids for the ‘jewel’ in its crown

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NAMA is expected to finalise the shortlist to acquire the loan portfolio which includes the 1.3m sq ft Dundrum Town Centre within the next 48 hours, in one of the bad bank’s most eagerly-awaited sales processes. Investors spanning sovereign wealth … Continue reading

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Cerberus wins final resi tranche of Project Finn for £225m, as bidders turn to Lloyds €4.2bn Project Poseidon

Cerberus Capital Management has won the final tranche of Ulster Bank’s Project Finn, paying £225m for the Irish residential mortgage pool, comprised of around 2,000 separate borrowers, completing the three-tranche sale to separate winners in the last 48 hours. This … Continue reading

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Goldman Sachs launches £646m Logicor UK CMBS for Blackstone (updated)

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Goldman Sachs has launched the securitisation of a £680m senior loan to Logicor, Blackstone’s European logistics platform, which is secured by a 42-strong industrial property portfolio throughout the UK. The transaction, dubbed Logistics UK 2015 plc, has six tranches, the … Continue reading

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DB and Apollo secure CRE tranche of Ulster Bank’s Project Finn for £400m as same finalists prepare binding Lloyds’ Poisedon bids (Updated)

Royal Bank of Scotland has sold the largest tranche of the circa €2.6bn Project Finn non-performing Irish real estate loans from its Ulster Bank subsidiary to a joint venture comprised of Deutsche Bank and Apollo Global Management for £400m. CoStar News understands that … Continue reading

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