Tag Archives: LLoyds Banking Group

KWE completes sale of Project Avon UK fire control centres for £100m

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Kennedy Wilson Europe Real Estate (KWE) has completed the disposal of the underlying collateral of the Avon loan portfolio to a UK infrastructure fund for a total consideration of £100.3m, reflecting an exit yield of 6.5%. The six-strong non-performing loan … Continue reading

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Lloyds Banking Group legacy Irish and UK CRE rump dwindles to £5.1bn

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Lloyds Banking Group reduced its combined gross UK and Irish commercial real estate lending last year by £8bn to just £5.1bn, with the bank finally close to lifting the albatross of its profligate property lending past. In its 2014 annual … Continue reading

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BoE stress tests: UK banks exposed to £8.7bn CRE impairment charge under stress tests although loan books are ‘markedly improved’

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Seven of the UK major commercial banks would suffer a collective £8.7bn three-year cumulative impairment charge on their commercial real estate (CRE) portfolios under the Bank of England (BoE) stress test scenario published this morning. As much as two-thirds of … Continue reading

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Richard Dakin to leave Lloyds in November as good bank consolidates team structure

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Lloyds Banking Group has confirmed this morning that Richard Dakin, managing director and head of corporate real estate business support unit and non-core, is leaving the bank in November after more than 30 years with the group.  For the last … Continue reading

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Lloyds Banking Group brings re-branded Spectrum portfolio to market for €120m

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Lloyds Banking Group has launched the sale of a seven-strong portfolio direct Irish retail assets in the renamed as reshuffled Spectrum portfolio which is seeking offers in excess of €120m. The Spectrum portfolio, renamed from the portfolio’s original name of … Continue reading

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BREDS carves up IERET whole loan and sells down €100m senior tranche to BAML

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Blackstone Real Estate Debt Strategies (BREDS) has carved up the €222m whole loan which refinanced Invista European Real Estate Trust (IERET) just over three months ago and sold a €100m senior loan to Bank of America Merrill Lynch (BAML). BREDS … Continue reading

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Endgame in sight for Lloyds’ real estate deleveraging:  UK and Irish books fall to £8.5bn

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Lloyds Banking Group’s non-core legacy UK and Ireland commercial property loans have shrunk to around £8.5bn, after the a further run-off of approximately £4.2bn over the first half of this year. Over the six months to the end of June, … Continue reading

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CR hires Lloyds’ Andreas Costa to expand NPL and debt origination capabilities

CR Investment Management, the pan-European financial advisory firm, has hired Andreas Costa from Lloyds Banking Group.  Costa joins CR Financial Solutions (CRFS) as an associate director, based in CR’s London office, and will be responsible for expanding the firm’s debt and … Continue reading

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Lloyds’ John Gardiner replaces Richard Buckland at AIG amid flurry of people moves

AIG has replaced Richard Buckland, who left the US insurance lender after one year for Marathon Asset Management at the beginning of last month, with John Gardiner of Lloyds Banking Group. Gardiner joined at AIG this month as managing director, … Continue reading

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