Tag Archives: Hammerson

Difficulties ahead for execution of Project Jewel loan-to-own strategy

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BAML’s equity research team has highlighted concerns over Hammerson and Allianz Real Estate’s certainty of execution in converting the planned €1.85bn Project Jewel loan portfolio into direct property ownership. NAMA selected Hammerson and Allianz as preferred bidders after the investors … Continue reading

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NAMA awards Hammerson and Allianz exclusivity on Project Jewel (updated)

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Hammerson and Allianz Real Estate last night signed exclusivity to acquire the Project Jewel loan portfolio from NAMA for €1.85bn, anchored by Ireland’s largest shopping centre, the 1.5m sq ft Dundrum Town Centre. The 50:50 joint venture partners’ €1.85bn price … Continue reading

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NAMA receives three binding bids for Dundrum shopping centre last night

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NAMA received binding bids last night from the reduced three finalists for €2.4bn Project Jewel loan portfolio, which includes the bad bank’s centerpiece commercial property – the 1.3m sq ft Dundrum Town Centre. CoStar News has learned that the original … Continue reading

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Battle for Dundrum Town Centre narrows to five

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NAMA has selected a five-strong shortlist for its €2.4bn Project Jewel loan portfolio, as the battle for the 1.3m sq ft Dundrum Town Centre narrows to five. Allianz Real Estate, Hines, Hammerson, Davidson Kempner and Colony Capital are all believed … Continue reading

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Value Retail secures £320m Lloyds-led four bank refi for Bicester Village

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Value Retail, developer and operator of outlet shopping villages across Europe, has refinanced Bicester Village in Oxfordshire with a five-year £320m four-bank club syndicate led by Lloyds Bank Commercial Banking and including Helaba, The Royal Bank of Scotland and Santander. … Continue reading

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Hammerson closes seven-year €500m bond priced at 145 basis points (updated 15:20)

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Hammerson, the UK and France retail-focussed REIT, has closed a seven-year dated €500m senior unsecured corporate bond, in an offering which was six times over subscribed.   The euro-denominated bond issuance was priced at priced at 145 basis points over … Continue reading

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Brookfield’s £518m Hammerson London office portfolio cash buy

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Brookfield Office Properties, the global real estate developer and investor, has agreed to buy five City of London offices and a development scheme from Hammerson for £518m, reflecting a 5% premium to the December 2011 valuation. The acquisition reflects a … Continue reading

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Hammerson’s debt costs rise four-fold

Hammerson has replaced its expiring undrawn £670m credit facility with a £505m, five-year revolving facility reflecting a four -fold increase in its cost of debt. The syndicated request, oversubscribed from £400m, was provided by an 11-strong consortium of banks led … Continue reading

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