Monthly Archives: August 2015

HSH Nordbank eyes autumn resolution over potential €15bn NPL bad bank

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HSH Nordbank is hoping for clarification this autumn over its year-long request to transfer the bulk, or all, of its remaining €15bn of non-performing loans (NPLs) into a State-owned bad bank. Germany’s federal states of Hamburg and Schleswig Holstein, which … Continue reading

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Propertize appoints Lazards to explore sale of €4.3bn bad bank lending platform

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Propertize, the bad bank formed from the Netherlands government’s nationalisation of SNS REAAL’s property finance division in 2014, has appointed Lazards to explore a sale of the entire real estate lending platform including the remaining €4.3bn net loan exposures. The … Continue reading

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European loan portfolio market to brush off China-led volatility to close €152bn in 2015

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European real estate loan sales this year are unlikely to be materially disrupted by the current China-led volatility gripping global markets, predicts Deloitte, with around €80bn worth of loan portfolio deals expected to close by the end of the third … Continue reading

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NAMA narrows €7.2bn Project Arrow search to three

NAMA has narrowed the field to three finalists for the €7.2bn Project Arrow non-performing loan portfolio, in a trade expected to price below €1bn. CarVal Investors and Goldman Sachs are again jointly in the final stage of an Irish NPL … Continue reading

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Värde Partners wins bulk of Glenn Maud’s former Gemini portfolio for above £305m

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Värde Partners has won the remaining 24-strong Gemini UK commercial property portfolio, formerly owned by Glenn Maud’s Propinvest, for above £305m, CoStar News has learned. The sale price reflects a sub 9% net initial yield and reflects around a 10% … Continue reading

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European NPL sales to accelerate: up to €84bn in deals to close before year end

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European real estate loan portfolio sales is expected to ramp up from next month with as much as a further €84bn in planned disposals expected to close before the year end, taking annual volumes to almost €140bn capping the fastest … Continue reading

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Clearbell closes £50.75m Stephenson portfolio financed with £23.75m PBB loan

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Clearbell Capital has completed the £50.75m acquisition of the Stephenson portfolio from Stirling Investments, financed with a £23.75m five year senior loan from Deutsche Pfandbriefbank (PBB). The portfolio, which has been renamed by Clearbell as the Polaris portfolio, is comprised … Continue reading

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GAM to buy Renshaw Bay structured as a five-year contingent payment

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GAM, the Swiss multi-asset class independent asset manager with CHF 124.2bn (c.£81bn; c.€114.5bn) under management, has acquired Renshaw Bay’s c.£770m predominantly UK and German commercial real estate whole loan lending platform. The definitive agreement to buy Renshaw Bay was announced … Continue reading

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Attestor Capital-managed fund wins FGH Bank’s Project River NPL

Attestor Capital, on behalf of Trinity Investments Limited, has acquired a portfolio of defaulted loans, dubbed Project River, from FGH Bank for around €150m secured by a portfolio of offices in the Netherlands formerly managed by Wölbern Invest. The story … Continue reading

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