Tag Archives: FMS Wertmanagement

BAML tests CMBS market with first deal of the year in €317m Blackstone-sponsored Kingfisher transaction

BAML has launched the first European CMBS of the year, the securitization of a loan extended to Blackstone to acquire the Kingfisher retail-led property portfolio in Germany from bad bank FMS Wertmanagement. The capital structure for the €317.05m TAURUS 2016-1 … Continue reading

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FMS WM readies €230m German Project Samba loan portfolio

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FMS Wertmanagement has launched the sale of its second sub and non-performing loan portfolio, Project Samba, a granular German multi-family and apartments-dominated two-tranche loan portfolio with an aggregate outstanding balance of €230m. PwC European Portfolio Advisory Group in Frankfurt is … Continue reading

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Oaktree secures Grupo Lar back bid for Project Gaudi’s Megapark Barakaldo as FMS Wertmanagement considers Netherlands and Italian NPL sales

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Oaktree Capital Management closed the purchase of the reduced FMS Wertmanagement Project Gaudi non-performing loan portfolio paying around €260m all cash, after a back bid sale of the Bilbao shopping centre to Grupo Lar and the removal of two loans prior to … Continue reading

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Oaktree and Colony vie for Project Gaudi which is expected to trade for €500m

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Oaktree Capital Management and Colony Capital are the two finalists vying for FMS Wertmanagement’s maiden European commercial real loan portfolio sale, secured by a raft of prized assets including the Hotel Arts in Barcelona, with a final sale expected to … Continue reading

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Private equity funds prepare final bids for €740m Project Gaudi

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A trio of private equity funds are among four finalists which will submit binding bids next week for a €740m portfolio of predominantly Spanish commercial real estate loans, secured by a raft of prized assets including the Hotel Arts in … Continue reading

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FMS WM launches c.€750m Project Gaudi in maiden European loan portfolio sale

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FMS Wertmanagement (FMS WM) has launched the sale of its first European commercial real estate (CRE) loan portfolio four years after the bad bank was established to wind-up legacy Hypo Real Estate assets and derivatives. Cushman & Wakefield’s Corporate Finance … Continue reading

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KKR leads junior lender consortium to inject £175m to encourage GHG restructuring

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A consortium of General Healthcare Group’s (GHG) junior lenders, led by private equity firm KKR, is lining up a fresh capital injection of around £175m into the outstanding £1.52bn debt stack, as the centrepiece proposal in a precariously balanced restructuring … Continue reading

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Bondholders consent to Livingstone brothers’ LoRDS CMBS restructuring

London & Regional’s LoRDS CMBS restructuring proposals were passed in a bondholder vote this morning, paving the way for three one-year loan extensions and margin step-ups to aid asset management ahead of the disposal of the Livingstone brothers’ four-strong securitised … Continue reading

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Manafea buys Livingstone brothers’ £65m City trophy triggering LoRDS CMBS repayment

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London & Regional, Richard and Ian Livingstone’s privately-owned property company, has sold 68 King William Street in the City for around £65m to Manafea Holding, a Saudi investor, which will trigger a £56.6m repayment on the outstanding securitised debt in … Continue reading

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