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Royal Bank of Scotland has upsized its Irish non-performing real estate loan portfolio, Project Aran, by €4.3bn to approximately €6.0bn, with the same three-strong finalists now to bid across the enlarged NPL. RBS took the decision almost two weeks ago … Continue reading
Dublin’s High Court has today granted an ex parte interim injunction preventing the sale of Ulster Bank’s Pool E loan tranche in Project Achill, after the borrower requested a hearing to establish whether the interest rate swap mis-selling claim must be settled first. Vierai … Continue reading
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RBS has selected three finalists to progress to the second round on the reduced Irish and UK commercial property loan portfolio, dubbed Project Button, as part of the bank’s accelerated de-leveraging programme for its Ulster bank subsidiary. CoStar News understands … Continue reading
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Capital & Counties Properties has closed a £665m five-year revolving credit facility (RCF) for its £1.2bn-valued Covent Garden commercial property portfolio with six banks, refinancing the listed property company’s three existing facilities and migrating to more flexible unsecured lending. CoStar … Continue reading
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Royal Bank of Canada (RBC) Capital Markets has financed Lone Star’s recent Project Holly Irish commercial real estate loan portfolio win from NAMA and a legacy RBS loan secured by and 75 St Stephen’s Green in Dublin with combined €210m … Continue reading
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Cornerstone Real Estate Advisers Europe has recruited Kristina Foster from RBS’ non-core real estate division to aid the senior lending team’s expansion into mainland Europe and search for higher yielding senior loan investments. Foster, who joins as European real estate … Continue reading
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RBS has appointed Rory Cullinan, the bank’s non-core chief executive, to head up the newly-created internal bad bank, RBS Capital Resolution (RCR). The new division will include RBS Capital Resolution (RCR) responsible for the accelerated rundown of £38bn of assets. … Continue reading
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Derwent London has signed a five-year £550m unsecured revolving credit facility (RCF) with HSBC, RBS, Barclays Bank and Lloyds Banking Group, replacing a £650m secured facility from the same four banks and increasing the London REIT’s total uncharged real estate … Continue reading
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Royal Bank of Scotland has shed £44.5bn of non-core global commercial property loans in the last four-and-a-half years, at a cost of £13.8bn in write-downs against impaired loans, reflecting a weighted average write-down of 31% over the loans. Annual write-downs … Continue reading
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