Secure Income REIT completes two-thirds of £885m refinancing requirement

Secure Income REIT, managed by Prestbury Investments, has refinanced two-thirds of its outstanding £885m debt, reducing its cost of debt by 110 basis points and negotiating a discounted pay-off of part of the listed firm’s swap breakage costs. Blackstone Mortgage … Continue reading →

Citigroup funds £390m loan for Greystar’s Nido purchase today

This gallery contains 1 photo.

Citigroup will today fund a five-year £390m senior loan to finance Greystar Real Estate Partners’ £600m acquisition of Nido London, a three-strong high-end student accommodation portfolio. Pricing on new Citigroup term loan is around 185 basis points over three months … Continue reading →

Lloyds’ John Gardiner replaces Richard Buckland at AIG amid flurry of people moves

AIG has replaced Richard Buckland, who left the US insurance lender after one year for Marathon Asset Management at the beginning of last month, with John Gardiner of Lloyds Banking Group. Gardiner joined at AIG this month as managing director, … Continue reading →

Nationwide has £7.1bn legacy CRE debt remaining after confirmed £694m Adelaide sale

This gallery contains 1 photo.

Nationwide’s legacy commercial property loan exposure has fallen to £7.1bn, comprised of £3.1bn in loan run-offs, maturity and enforcement as well as the post financial year sale of a European sub-performing loan portfolio, virtually completing the building society’s exit from … Continue reading →

Lloyds and Citi syndicate Peel’s MediaCityUK £325m loan to AIG and ING

This gallery contains 1 photo.

Lloyds Bank and Citi have syndicated the majority of the £325m five-year senior loan secured by Peel Group’s MediaCityUK, the home of the BBC’s Northern headquarters, to AIG and ING Real Estate Finance, CoStar News understands. Lloyds refinanced the maturing … Continue reading →

Morgan Stanley lines up syndication for Blackstone’s £190m Adelphi debt

This gallery contains 1 photo.

Morgan Stanley is syndicating the £190m five-year senior loan extended to Blackstone for the private equity giant’s acquisition of the Adelphi building in the West End, with AIG, BAWAG and Insight Investments lined up to take the lion’s share of … Continue reading →

AIG and Goldman Sachs head five-lender Gagfah €2bn refinancing

This gallery contains 1 photo.

AIG and Goldman Sachs head a five-strong club of lenders alongside three German pfandbrief banks to refinance more than €1bn of Gagfah’s maturing €2.06bn securitised debt, CoStar News understands, as part of a wider refinancing strategy to diversify the sources … Continue reading →

Property industry pays tribute to Tim Jones

Tributes have poured in throughout the surveying, investment and finance markets following the sudden death of seasoned surveyor and property lender Tim Jones last month. In collaboration with the family of Tim Jones and several of his closest colleagues and … Continue reading →

AIG to flex lending muscles in 2013 as BAWAG’s Tim Jones is hired

This gallery contains 1 photo.

AIG, the newly re-privatised global insurance company, will step up ambitions to underwrite UK commercial property senior loans this year, after hiring BAWAG managing director Tim Jones, CoStar News can reveal. Jones joins AIG later this month in a senior lending role … Continue reading →