Category Archives: Mezzanine

Benson Elliot lines up Wells Fargo and LaSalle to finance £132m Bentley portfolio

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Benson Elliot has lined up Wells Fargo and LaSalle Investment Management to finance the £132m acquisition of a business park and a shopping centre which formed the bulk of the Bentley portfolio from Legal & General Property. The portfolio comprises … Continue reading

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Lloyds Bank underwrites £147m Parkgate whole loan and sells mezzanine strip

Lloyds Bank has underwritten its first mezzanine loan since following the completion of its workout and sell off of legacy lending as part of a £147m five-year whole loan to finance BMO Real Estate Partners’ (BMO) £175m acquisition of Parkgate … Continue reading

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Blackstone’s BREDS enforces over Invista’s European property trust

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Blackstone Real Estate Debt Strategies (BREDS) has enforced over the Invista European Real Estate Trust (IERET) after an unsuccessful portfolio sale or refinancing and the material deterioration in the rental forecast for the remaining mixed-use Continental property portfolio. IERET’s property … Continue reading

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Brookland Partners hires HPI’s John Muldoon and GE Capital’s Gwendolyn Moy

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Brookland Partners has hired Hatfield Phillips International (HPI) director John Muldoon and former GE Capital Real Estate’s Gwendolyn Moy to join the firm’s expanding lending platform, European Real Estate Capital. Muldoon is expected to join Brookland next month after almost … Continue reading

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Blackstone to acquire Cannon Bridge House through B-Loan purchase from Fortress

Blackstone is on the brink of securing a £170m purchase of Cannon Bridge House in the City of London, through the acquisition of the B-Loan underneath the securitised debt from Fortress Investment Group. Blackstone will today complete the purchase of … Continue reading

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De Montfort Survey: Alternative lenders coming of age as new lending rises to six-year high

The level of new commercial property lending in the UK accelerated to £19.6bn over the first half of the year, the highest six-month new origination volumes since 2008, with insurers and debt funds accounting for almost a quarter of all … Continue reading

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BREDS and BXMT separately close £411m in hotel-backed whole loans for KSL Capital and Sankaty Advisors

Blackstone Real Estate Debt Strategies (BREDS) has provided KSL Capital Partners with a £315m whole loan to finance the US private equity group’s £485m acquisition of the final tranche of De Vere Group’s UK mid-market Village hotel chain. Continue reading

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Apollo simplifies Tragus’ complex capital structure built up over successive buyouts

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A consortium led by Apollo Global Management has completed the complex restructuring of Tragus Group, formerly owned by Blackstone, after taking ownership of the restaurant chain operators through a debt-for-equity swap and reducing its debt by more than £260m. Apollo, … Continue reading

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Royal Bank of Scotland finances Kennedy Wilson’s Jupiter portfolio with £184m

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Royal Bank of Scotland has refinanced Kennedy Wilson Europe’s (KWE) circa £315m Jupiter portfolio with a £184m senior loan secured by the majority of the assets formerly owned by Moises and Mendi Gertner’s Fordgate. CoStar News understands that the five-year … Continue reading

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