Natale Giostra set to leave CBRE for origination role

Natale Giostra, head of UK and EMEA debt advisory, is leaving CBRE after nine years to pursue a career in debt origination. Giostra, in an email this lunchtime, confirmed his departure from CBRE, stating: “After over 9 years I have … Continue reading →

Former aAIM-owned ‘Project Thames’ Aviva office portfolio sale launched

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Deutsche Pfandbriefbank has appointed CBRE to sell out of receivership a portfolio of regional UK assets let to insurance giant Aviva and formerly-owned by celebrity-backed aAIM Group, with an asking price of £84.2m, writes Paul Norman.  The Aviva Income portfolio … Continue reading →

NAMA finally to start €250m Project Club NPL sale process next week

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NAMA has finally sanctioned the launch of the €250m Project Club non-performing Irish (NPL) commercial property loan portfolio, with prospective bidders expected to be sent non-disclosure agreements to sign next week ahead of the release of the data tape, CoStar … Continue reading →

CBRE and Warwick St accused of overvaluing Gemini portfolio by £100m

Litigation proceedings filed against CBRE and Warwick Street last week in the High Courts of Justice claim that the property firms “negligently overvalued” 26 properties in the original Gemini portfolio by more than £100m. The special purpose vehicle (SPV) which … Continue reading →

High Court claim lodged against CBRE and Warwick St’s Gemini valuations

CBRE and Warwick Street, formerly known as King Sturge LLP, are facing a High Court of Justice legal claim over the property valuations over the 36-strong Gemini portfolio, formerly owned by Glenn Maud’s Propinvest. The special purpose vehicle (SPV), Gemini … Continue reading →

CBRE hires Steve Williamson to spearhead UK senior debt ambitions with Cairn Capital

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CBRE, the world’s largest property services firm, is talks with Cairn Capital over a collaboration which could lead to a joint venture senior debt fund, becoming the latest major real estate player to take advantage of the retreat of bank … Continue reading →

Inside NAMA’s 30-strong €810m Project Aspen Irish NPL

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Competition for National Asset Management Agency largest yet non-performing loan (NPL) portfolio, the €810m Project Aspen, is expected to be strong, as private equity funds seek to gain a foothold in Dublin’s ever-so gradually improving prime office and retail markets. … Continue reading →

NAMA readies €1bn projects Aspen and Club NPLs

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Ireland’s National Asset Management Agency has pooled two non-performing loan (NPLs) portfolios, projects Aspen and Club, which have a combined outstanding debt of more than €1bn. Project Aspen is an Irish NPL, which thought to have a near €800m outstanding … Continue reading →

Europe’s €160bn legacy sell-off, €130bn opportunistic buyers and ‘alternative’ €200bn debt providers

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Europe’s structural re-ordering of the commercial real estate markets could see up to €168bn in assets coming to market over the next four to five years from German open-ended funds (GOEFs), unlisted funds and governments, estimates Morgan Stanley. Alongside this … Continue reading →