Tag Archives: Deutsche Annington

Deutsche Annington’s €1.4bn Vitus buy expects to trigger 2014 refinancing

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Deutsche Annington’s €1.4bn acquisition of Vitus Group’s near 30,000-strong German multifamily portfolio is expected to trigger the repayment and refinancing of the inherited complex €1.35bn debt structure in time for the deal’s closure in the fourth quarter, CoStar News understands. … Continue reading

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Deutsche Annington confirms GRAND CMBS noteholders to be repaid in full next Monday

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Deutsche Annington has confirmed it is to drawdown €2.3bn of the bridge loan with JPMorgan and Morgan Stanley, as well as the already lined up €940m from fresh consortium of pfanbriefbank and insurance lenders, to repay the entire outstanding €3.2bn … Continue reading

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Revived ‘mini’ Annington IPO enables GRAND CMBS repayment timeline

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Terra Firma revived plans to list a slimmed down stake in Deutsche Annington this morning, pitching the mini IPO at a downscaled price target and share offering which raises the required €400m floor gross proceeds, on which the drawdown of … Continue reading

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Failed Deutsche Annington IPO reveals fragility of investor confidence

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Terra Firma’s decision to pull the plug on the flotation of Deutsche Annington Immobilien after a cornerstone investor fell away, bringing to an end the two-year investor confidence revival in the German multi-family sector. Such was the concentration of Deutsche Annington’s order … Continue reading

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Deutsche Annington signs €2.5bn JPM and MS bridge loan ahead of BBB corporate bond

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Deutsche Annington has agreed a €2.5bn unsecured bridge loan with JP Morgan and Morgan Stanley to fully repay the outstanding GRAND CMBS loan balance by October, ahead of a likely smaller BBB-rated corporate bond issuance to facilitate a broader group-wide … Continue reading

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BAML issues €1.07bn Taurus 2013 GMF 1 on Gagfah’s Woba portfolio

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Bank of America Merrill Lynch issued the five-tranche €1.07bn Taurus 2013 GMF 1 CMBS on Friday afternoon, secured by Gagfah’s 46,151-strong Dresden multi-family-focused “Woba” portfolio, in the first new issuance European CMBS of the year. BAML’s return new issuance has been … Continue reading

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Deutsche Annington closes €656.6m partial GRAND CMBS refi with Berlin Hyp

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Berlin Hyp refinanced €656.6m of Deutsche Annington’s maturing GRAND CMBS in a five-year loan, as part of a wider €786.6m fresh debt package completing 70% of the German residential property company’s €1bn refinancing target for the year. The second tranche … Continue reading

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Goldman Sachs-owned LEG Immobilien plans €1bn IPO

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LEG Immobilien, a German residential real estate company majority owned by Goldman Sachs, announced plans today to float next month a crystallising a profit from for the investment bank which is expected to raise up to €1bn. Goldman Sachs owns … Continue reading

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Deutsche Annington’s GRAND “Goldilocks” refi deal wins 90% approval

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Deutsche Annington has secured take-up of just over 90% of bondholders in the outstanding €4.33bn GRAND CMBS, turning the focus to next year’s ambitious €1bn refinancing target and the Germany’s largest residential company’s public listing. Yesterday afternoon, Deutsche Annington confirmed … Continue reading

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