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Four separate bids were finally submitted over the weekend to Commerzbank for the formerly-named Eurohypo’s circa £4bn UK commercial real estate loan book. Wells Fargo and Lone Star have teamed up to bid for performing and sub-performing pools, respectively, while … Continue reading
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Former investment banker Andrew Penny and West End investment agent Nick Deane have founded QZ Capital which will seek to invest in central London commercial and residential properties with a value-add play alongside joint venture partners. Penny, a real estate banking veteran … Continue reading
DTZ has published a markedly bullish forecast for the fortunes of the UK’s secondary property market, predicting a recovery in values within two years, with receding investor risk-aversion acting as a catalyst for secondary yields to stabilise next year and … Continue reading
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UK secondary commercial property values have at least a further 20% to fall in value in the next two to three years, forecasts Deutsche Bank, with the reduction of bank lending for distressed property to just a trickle effectively suppressing … Continue reading
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Strong capital flows together with the belief markets are entering bubble territory for prime in core Western European countries will prompt real estate investors to move up the risk curve and invest in secondary assets next year, predicts JPMorgan’s real … Continue reading
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Morgan Stanley is considering a return to European real estate lending as soon as the first quarter of next year with a business plan under discussion internally which could pave the way for an origination model supported by partial syndication … Continue reading
Deutsche Bank is bringing the circa €650m to €700m German multi-family CMBS to market next week when the securitisation finally goes ‘red’ next week with cornerstone bond investor JPMorgan back on the ticket, CoStar News understands. Vitus Group, the German … Continue reading
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Cerberus Capital Management, Lone Star and Kennedy Wilson make up three of a four-strong shortlist for Lloyds Banking Group’s nominally-valued £625m Project Harrogate non-performing loan (NPL) portfolio, CoStar News understands. Kennedy Wilson’s bid is joint with Deutsche Bank. Lloyds has … Continue reading
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Andrew Penny, global co-head of real estate investment banking at JP Morgan, has left the bank, bringing to an end a 13-year career. JPMorgan staff were informed of Penny’s decision to leave the firm by email this week, in which … Continue reading
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