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 →

Erste Group pulls sale of €3.6bn Project Neptune NPL platform

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Banca Comerciala Romana (BCR), Romania’s largest bank and part of the Erste Group, pulled the sale of the Project Neptune Romanian commercial real estate (CRE) and corporate non-performing loan portfolio (NPL) and platform this week after rejecting the final remaining … Continue reading →

Goldman Sachs launches £646m Logicor UK CMBS for Blackstone (updated)

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Goldman Sachs has launched the securitisation of a £680m senior loan to Logicor, Blackstone’s European logistics platform, which is secured by a 42-strong industrial property portfolio throughout the UK. The transaction, dubbed Logistics UK 2015 plc, has six tranches, the … Continue reading →

JPMorgan prices the dual currency Blackstone Mint CMBS

JPMorgan has priced the dual currency the Mint CMBS, the securitisation of a loan which refinanced Blackstone’s rebranded three-strong DoubleTree by Hilton portfolio, achieving blended coupons of 202 and 187 basis points for the sterling and euro tranches, respectively. Final … Continue reading →

Fitch Ratings interjects on Mint 2015 CMBS questioning S&P and DBRS’ ratings

Fitch Ratings has interjected in the ongoing sale of the Mint 2015 securitisation debt, issued by JPMorgan which is secured by three rebranded Hilton hotels, with an unsolicited press release issued on Friday afternoon challenging the ratings rationale concluded by … Continue reading →

JPMorgan launches multi-jurisdictional Blackstone Mint CMBS

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JPMorgan has launched the refinancing of Blackstone’s reduced Mint hotel portfolio, in the investment bank’s return to European CMBS and also the first post-crisis multi-jurisdictional, dual-currency securitisation, in the three-year Mint 2015 PLC transaction. Mint 2015 PLC is comprised of … Continue reading →

Blackstone finances Cannon Bridge House with £120m BNP Paribas senior loan

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Blackstone has financed the purchase of Cannon Bridge House with a five-year £120m senior loan from BNP Paribas Corporate and Institutional Banking. The five-year facility reflects a circa 72% loan-to-cost (LTC), based on a purchase price of £170m. Blackstone acquired … Continue reading →

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

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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 →