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 →

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 →

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 →

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 →

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 →

Kennedy Wilson confirms another £200m slated for sale as the European property investor continues to mature

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Kennedy Wilson Europe Real Estate (KWE) has announced a second tranche of asset disposals, with around £200m worth slated for sale by mid-2017, as the fast-maturing listed property company seeks to crystallise profits and redeploy proceeds in its favoured four … Continue reading →

‘Brexit’ reality looms: is UK exit a damp squib or are we on brink of structural precipice?

UK markets have entered a four-month period of volatility after prime minister David Cameron fired the starting gun last Saturday on whether Britain should remain in the EU. Whether the impending historic referendum – confirmed for June 23 – has … Continue reading →

KPMG: €32bn of live European loan portfolios up for sale

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There is currently more than €32bn in ongoing European loan portfolios transactions, according to KPMG, including as much as €17.5bn in commercial real estate-led transactions. KPMG, in its annual European Debt Sales report published yesterday afternoon, reports that there are … Continue reading →

Syndicated real estate loan market in EMEA net beneficiary of H2 capital market closure

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Syndicated lending to real estate in Europe, the Middle East and Africa (EMEA) of €40.0bn in the second half of 2015, together with upward revisions for H1, drove annual volumes of €74.7bn, completing the second full year of data, as … Continue reading →