Monthly Archives: March 2016

British GRI conference is just five weeks away; conference progamme now available

GRI, the global club of senior real estate investors, developers and lenders, is hosting its annual two-day British conference in five weeks amid a context of renewed uncertainty in global markets. This year’s two-day conference, on 3-4 May at the … Continue reading

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Tishman Speyer finances The Economist Plaza with £75m Deutsche Pfandbriefbank loan

Tishman Speyer has financed its £132.5m purchase of London headquarters of The Economist Group with a £75m five-year senior loan from Deutsche Pfandbriefbank (PBB). The Economist Plaza, located at 25 St James’s Street, comprises three mixed-use buildings – the Tower … Continue reading

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Returning “storm clouds” and Brexit fears loom large over revenue-raising Osborne Budget

Chancellor George Osborne’s eighth Budget was unexpectedly more difficult than he would have envisaged three months ago, with ambitions tempered by a slowdown in global growth and a worsening of the outlook for the world economy. Mr Osborne framed the Budget … Continue reading

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BAML books marginal profit on €317m Blackstone CMBS despite discounted junior note sale

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BAML priced the €317m Kingfisher CMBS transaction, sponsored by Blackstone, at an estimated marginal profit, despite selling the two junior tranches at a discount. The final capital structure for TAURUS 2016-1 DEU – which is the securitisation of a loan … Continue reading

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BAML refinances Certeum for Blackstone’s Logicor in potential CMBS

Logicor, Blackstone’s European logistics platform, has selected BAML to refinance Certeum’s logistics property portfolio with a €575m five-year senior loan which the investment bank will either securitise in a new CMBS transaction or syndicate. Certeum, a logistics and industrial property … Continue reading

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BAML issues initial pricing guidance for Blackstone CMBS which implies c. 300 bps blended bond margin

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BAML has issued initial pricing guidance for the securitization of a €333.7m loan extended to Blackstone, with the weighted average bond coupon expected to fall around 300 basis points. The TAURUS 2016-1 DEU transaction is the securitization of a loan … Continue reading

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Lloyds Bank closes £9bn new business in 2015 including record syndication levels

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Lloyds Bank closed approximately £9bn worth of UK commercial real estate (CRE) loans in 2015, of which an estimated £2bn to £3bn was syndicated through the bank’s commercial real estate team. The £9bn total is comprised of Lloyds’ separate CRE … Continue reading

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PBB expects new CRE lending to top €10bn in 2016 although warns of pressure to margins and funding costs

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Deutsche Pfandbriefbank (PBB) reported a 16% rise in real estate lending to €10.4bn in 2015, a level the bank expects to match in 2016, despite warning of further margin compression and potential increases to its funding costs. PBB’s overall group … Continue reading

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