Tag Archives: Ernst & Young

Hibernia funds €38m bridge loan to unlock Cumberland House purchase and refurbishment

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Hibernia REIT has extended the existing owners of Cumberland House, the Christopher Bennett Group, with a €38m six-month bridge loan to enable the sale of vacant office block in Dublin 2 to the Irish real estate investment trust ahead of … Continue reading

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Inside Netherlands’ €4.8bn bad bank Propertize

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The State of Netherlands has completed the nationalisation of SNS REAAL’s troubled property finance division, transferring €4.8bn in predominantly Netherlands commercial real estate investment and development loans to a newly-established bad bank, named Propertize. Propertize – a somewhat clichéd verb … Continue reading

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MetLife agrees complex £126m loan for Canary’s 15 Westferry Circus buy

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MetLife has negotiated a £126m three-year whole loan to finance Canary Wharf Group’s re-purchase of 15 Westferry Circus in Docklands out of administration, in an unusually highly-leveraged deal structured to burn-off the long-dated interest rate swap and prevent crystallising steep … Continue reading

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Battle for Castle Market: Kennedy Wilson/Värde win after loan enforced

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Kennedy Wilson and Värde Partners are at finally set to win the fiercely-contested 16-strong Castle Market Dublin office portfolio, after special servicer Hypothekenbank Frankfurt began loan enforcement proceedings this afternoon ahead of a sale to the original joint venture bidders, … Continue reading

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Battle for Castle Market: KW’s bid fails to secure bondholder approval

Kennedy Wilson and Värde Partners bid to secure bondholder approval to acquire the 16-strong Castle Market portfolio failed this morning, triggering the prospect of either the appointment of Ernst & Young as receivers, the beginning of negotiations with rival bidder … Continue reading

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European NPL sales to rise with hope ECB mandate could trigger flood

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European non-performing loan (NPL) portfolio deal flow is expected to peak this year with global private equity funds increasingly turning their focus to this side of the Atlantic following lacklustre NPL deal flow in the US. With magnitude of distress in … Continue reading

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