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 →

Inside Propertize’s complex €5.5bn Project Swan corporate sale

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Bidders have approximately two weeks to submit first round indicative bids for Propertize, the Dutch State-owned real estate bad bank, for which the floor price for a viable trade looks to be around €3.1bn. The proposed private auction sale of … Continue reading →

Lloyds Bank extends a £185m debt facility for retail development scheme at The O2

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Lloyds Bank Commercial Banking has extended a £185m debt facility partly to finance the development a new designer outlet retail scheme at The O2 in London for joint venture partners Crosstree Real Estate Partners and Anschutz Entertainment Group (AEG). Crosstree … Continue reading →

KWE completes sale of Project Avon UK fire control centres for £100m

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Kennedy Wilson Europe Real Estate (KWE) has completed the disposal of the underlying collateral of the Avon loan portfolio to a UK infrastructure fund for a total consideration of £100.3m, reflecting an exit yield of 6.5%. The six-strong non-performing loan … Continue reading →

Grosvenor secures competitive Liverpool ONE refinancing as shopping centre comes of age

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Grosvenor, the real estate company owned by the Duke of Westminster, has refinanced the 2.4m sq ft Liverpool ONE shopping centre with a seven-year £410m loan from a five-strong club of banks. Grosvenor, the real estate company owned by the … Continue reading →

RBS and Crédit Agricole CIB provide £90m loan for Great Ropemaker Partnership

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Great Portland Estates has arranged a new £90m five year non-recourse loan with Royal Bank of Scotland and Crédit Agricole CIB for The Great Ropemaker Partnership (GRP). CoStar News understands that the margin was 125 basis points over three-month LIBOR, … Continue reading →

Tribeca’s LBBW-led Oxford Street block cash-out refi crystallises at least £75m in profit

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Tribeca Holdings has refinanced the prime retail block opposite Selfridges at 431-451 Oxford Street with a £227.5m six year whole loan provided by LBBW and TH Real Estate, in a cash-out refi which crystallising at least £75m in profit. Rothschild … Continue reading →

Sale of €5.5bn Propertize bad bank dubbed Project Swan kicks off in January

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NL Financial Investments, the financial entity established by the Dutch State to bail out the country’s bank in the global financial crisis, has formally sanctioned the privatisation of the Propertize bad bank, in a sale process dubbed Project Swan. Propertize … Continue reading →

Lone Star secures £133m development loan for Two Fifty One resi-led scheme near Ministry of Sound nightclub

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Lone Star has secured a £133m development finance facility from Lloyds Bank’s commercial real estate team and Wells Fargo for the Two Fifty One scheme near the Ministry of Sound nightclub in Elephant & Castle. The development facility is split … Continue reading →