Mark Carney confirms European regulators are ‘monitoring’ CRE markets as risks to financial stability increase

Mark Carney, the governor of the Bank of England, has said European regulators are monitoring commercial real estate markets as risks from the sector to broader financial stability increase. In an address yesterday afternoon to the European Parliament’s committee on … Continue reading →

Deutsche Bank forecasts CMBS issuance could reach €10bn if ‘pricing blockages’ are removed

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Deutsche Bank’s ABS Research team has forecast annual CMBS issuance for 2016 at up to €10bn, but stated that such volumes are only achievable if “pricing blockages” which effectively closed the market for new transactions in the latter half of … Continue reading →

Colony to close Gemini with £180m BAML loan as legacy valuation legal ruling looms

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Colony Capital will close the £311m purchase of the remaining 24-strong Gemini portfolio next week, financed with a five-year £180m senior loan by Bank of America Merrill Lynch (BAML). CoStar News understands that the five-year loan will be priced just … Continue reading →

European CMBS annual issuance closes 2015 at €5bn after summer of macro strife widens ABS spreads

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Commercial mortgage backed securitisation (CMBS) issuance in Europe reached €5.2bn in 2015, data compiled by Bank of America Merrill Lynch (BAML) shows, with the investment bank’s ABS research team forecasting between €5bn and €10bn next year. Annual deal flow, across … Continue reading →

Oxford/Temasek JV buys £415m Blue Fin with HSBC financing lined up

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Oxford Properties and Singapore’s Temasek has signed an agreement to buy the 497,021 sq ft Blue Fin Building on London’s South Bank from a subsidiary of Time Inc. for £415m, with senior finance lined from HSBC. The joint venture deal … Continue reading →

Tim Knowles fronts Brunel Shopping Centre loan purchase with Deutsche Bank arranged financing

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Tim Knowles’ FI Real Estate Management (FIREM) has fronted the acquisition of the defaulted Brunel Shopping Centre loan, secured by the 550,692 sq ft centre in Swindon, for £68m, financed with three-year £68.0m secured unrated corporate bond arranged by Deutsche … Continue reading →

Cerberus refinances three German retail assets from Project Phoenix with €63m PBB loan

Cerberus Capital Management has refinanced three retail properties in Germany acquired three years ago from Wells Fargo with a €63m senior loan from Deutsche Pfandbriefbank (PBB), the recently re-privatised German bank said in a statement. Cerberus acquired the value-add retail-led … Continue reading →

Cerberus beats Apollo to win Project Arrow for around €800m

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Cerberus Capital Management has won the last major NAMA non-performing loan portfolio of the year, Project Arrow, believed to be paying around €800m for the pool of Irish real estate loans. NAMA confirmed Cerberus’ selection as the preferred bidder today … Continue reading →

Davidson Kempner wins Bank of Ireland’s National portfolio for in excess of €170m

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Davidson Kempner has this morning exchanged on the acquisition of the five-strong portfolio of Irish regional retail parks portfolio, dubbed the National portfolio, from Bank of Ireland for in excess of €170m. Oaktree Capital Management was the closest underbidder. Tristan … Continue reading →