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 →

BAML tests CMBS market with first deal of the year in €317m Blackstone-sponsored Kingfisher transaction

BAML has launched the first European CMBS of the year, the securitization of a loan extended to Blackstone to acquire the Kingfisher retail-led property portfolio in Germany from bad bank FMS Wertmanagement. The capital structure for the €317.05m TAURUS 2016-1 … Continue reading →

Tim Knowles finances Lea Valley DPO with £73m finance package from Aviva Investors and Pramerica

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Tim Knowles has closed the purchase and financing the 24-strong regional industrial Lea Valley portfolio, which he used to own directly, financed with a mixture of senior and mezzanine financing. Knowles agreed a discounted purchase offer (DPO) for £90m last … Continue reading →

Park Street completes $100m capital raising and closes maiden deal

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Park Street Advisors, a private equity fund advisor focused on structured and distressed European commercial real estate, has completed the first closing of $100m for its maiden fund from a large US private equity firm. The fund, called Panther Capital … 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 →

Court of Appeal vindicates Colliers of ‘negligent’ over valuation claim legacy Titan CMBS deal

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The Court of Appeal has overturned Justice Blair’s High Court judgement squashing the negligence claim against Colliers International that the firm had over valued a German department store by €32m 10 years ago. In the judgment handed down this morning … Continue reading →

Colony Capital completes £311m all cash Gemini swoop after Värde Partners’ exclusivity period expires

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Colony Capital exchanged contracts on Friday night to acquire the remaining Gemini UK commercial property portfolio for £311m, after Värde Partners’ exclusivity period expired 10 days ago, CoStar News has learned. Colony, in partnership with asset manager Quidnet Capital Partners, … Continue reading →