Tag Archives: deleveraging

SocGen to sell nearly €3bn in three property loan portfolios

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Société Générale’s real estate deleveraging with a €2bn performing global loan book expected to come to market, while second round bids are due this Friday on the circa €500m sub-performing French and German loan book, CoStar News understands. CoStar News … Continue reading

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RBS eyes Project Isobel £550m senior debt syndication

Royal Bank of Scotland will consider syndicating the £550m senior debt which it has underwritten to finance its joint venture Project Isobel UK real estate loan portfolio, CoStar News understands. The £1.36bn nominally-valued portfolio, which closed on 20 December with … Continue reading

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RBS targets €5bn European non-core real estate run-down in 2012

Royal Bank of Scotland will look to further deleverage its European non-core real estate by between €4bn and €5bn this year, which will include Continental direct property portfolio sales of up to €500m, CoStar News understands. The state-backed bank is … Continue reading

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Deutsche Bank closes £700m Kennedy Wilson loan portfolio financing

Kennedy Wilson, the international real estate investor, financed the purchase of the nominally-valued $1.8bn Bank of Ireland UK property loan portfolio with £700m equally split in an equity stake and debt financing from Deutsche Bank. Late last month, Deutsche Bank … Continue reading

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Lloyds and Lone Star close Project Royal

Lloyds Banking Group and Lone Star finalised the £923m Project Royal UK secondary commercial property loan portfolio yesterday, taking just two weeks to close the deal. Lone Star has confirmed that the entire loan portfolio has been transferred into its … Continue reading

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UPDATED: RBS and Blackstone close Project Isobel

Royal Bank of Scotland and Blackstone have finally closed the £1.36bn Project Isobel property loan deal, backed by £550m in stapled debt, CoStar News understands. The joint venture partners signed contracts on Tuesday evening at 8pm. The closure of the … Continue reading

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DTZ Research: a perfect secondary property storm looming

Poor quality secondary office stock accounts for more than two-thirds of total floor space for the sector, with the proportion set to rise as restricted redevelopment appetite curbs the recycling of moribund properties. Almost 70%, or 721m sq ft of … Continue reading

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Debt buying REITs ‘could ease bank deleveraging congestion’

The potential introduction of legislation for mortgage REITs, which would allow the sector to buy commercial real estate debt and CMBS bonds, would provide a fillip for banks’ efforts to deleverage. There is a heightened need for banks to unwind … Continue reading

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Bids in tomorrow for SocGen’s €500m NPL portfolio

Société Générale will receive first round bids tomorrow on its €500m circa 25-strong loan portfolio as overall European commercial property loan sales close in on €4.4bn in a busy year of non-performing loan deleveraging. SocGen’s non-performing loan portfolio is expected … Continue reading

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