Tag Archives: Deloitte

Lone Star completes £2.3bn Project Churchill win in largest NPL deal of the year

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Lone Star yesterday completed the £2.3bn acquisition of Aviva’s final major UK loan portfolio sale, Project Churchill, in the largest NPL trade in Europe this year. JPMorgan, which backed Oaktree in the first round and Apollo in the second round, … Continue reading

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Colony Capital completes £311m all cash Gemini swoop after Värde Partners’ exclusivity period expires

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Colony Capital exchanged contracts on Friday night to acquire the remaining Gemini UK commercial property portfolio for £311m, after Värde Partners’ exclusivity period expired 10 days ago, CoStar News has learned. Colony, in partnership with asset manager Quidnet Capital Partners, … Continue reading

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Lone Star pays near £2.25bn for Project Churchill financed by Citi and Morgan Stanley

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Lone Star has paid approaching £2.25bn for one of the last major UK real estate loan portfolios, Aviva’s Project Churchill, secured by more than 1,000 commercial properties nationwide, edging out Apollo Global Management. Project Churchill’s total unpaid principal balance (UPB) … Continue reading

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European loan portfolio market to brush off China-led volatility to close €152bn in 2015

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European real estate loan sales this year are unlikely to be materially disrupted by the current China-led volatility gripping global markets, predicts Deloitte, with around €80bn worth of loan portfolio deals expected to close by the end of the third … Continue reading

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Goldman Sachs, CarVal Investors and BoI win Lloyds’ Project Poseidon for €1.2bn

Goldman Sachs, CarVal Investors and Bank of Ireland have shared the spoils of Lloyds Banking Group’s final Irish commercial property loan portfolio, paying £827m (€1.18bn) for Project Poseidon, virtually completing the bank’s withdrawal from Irish commercial property lending. Lloyds said in a … Continue reading

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Aviva selects three finalists to compete for £2.7bn Project Churchill UK loan portfolio

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Aviva has narrowed the search for a buyer for its final clean up trade of legacy UK commercial property loans in the £2.7bn Project Churchill portfolio, secured by just over 1,000 UK commercial properties, to three US private equity firms. … Continue reading

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Nationwide selects Project Adelaide finalists as NPL sales build momentum

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Nationwide has selected three private equity funds to progress to the second and final stage of the bidding process for the granular Project Adelaide German commercial property loan portfolio, as the wave of European NPL activity continues to gather in … Continue reading

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Lloyds readying flurry of year-end loan portfolio sales

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Lloyds Banking Group is preparing to shift as many as another five commercial property loan portfolios before the end of the year, as part of a wider effort by the bank to reduce its total non-core legacy loan book to … Continue reading

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Cerberus to pay £315m for Project Thames NPL financed by Nomura

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Cerberus Capital Management has won its first European non-performing loan portfolio (NPL) from Lloyds Banking Group, after emerging as the highest bidder on Tuesday for the bank’s Project Thames portfolio, paying around £315m which will be financed by Nomura. Competition … Continue reading

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