Category Archives: Market Trends

Alternative De Montfort Analysis: Banks’ worst case UK property debt losses fall to under £7bn

Banks’ UK commercial property loans at risk of loss were less than £7bn at the end of last year, reflecting just 4% of the outstanding £170bn of debt captured by the latest annual De Montfort property lending survey. This £6.88bn … Continue reading

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Trouble at the Co-Op: mutual considers £2.1bn UK property NPL sale

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The Co-Operative Group, the UK’s largest consumer mutual bank, is contemplating selling off its £2.1bn non-core non-performing property loans, in a move which would help stem the bank’s estimated up to £1.8bn capital shortfall and release much-need risk-weighted assets. Morgan … Continue reading

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Deutsche Bank considers sale of Postbank’s €2.5bn UK property loans

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Deutsche Bank is exploring the possible disposal of Deutsche Postbank’s €2.5bn predominantly UK commercial property loan book, which could pave the way for a second multi-billion performing UK property loan book sale this year. Postbank, which is 93.7%-owned by Deutsche Bank, … Continue reading

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British Land secures £290m RCF from seven banks and counting

British Land has secured a £290m revolving credit facility (RCF) from a consortium of seven international banks, as part of a wider debt raising strategy which has seen the UK’s second largest REIT raise as much as £2.8bn over the … Continue reading

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ANALYSIS: Are NAMA’s single-borrower NPL sales a flawed process?

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Across the Irish Sea, speculation has swept through the commercial property market that NAMA has pulled its next non-performing loan (NPL) portfolio, €235m Project Club, “amid general concerns that borrowers are teaming up with potential buyers which is undermining the … Continue reading

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Lloyds confirms Project Thames sale to Cerberus at £325m

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Lloyds Banking Group signed contracts with Cerberus Capital Management over the sale of the UK real estate loan portfolio, Project Thames, in the early hours of the morning ahead of a stock market announcement confirming the sale at £325m. In … Continue reading

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Cerberus to pay £315m for Project Thames NPL financed by Nomura

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Cerberus Capital Management has won its first European non-performing loan portfolio (NPL) from Lloyds Banking Group, after emerging as the highest bidder on Tuesday for the bank’s Project Thames portfolio, paying around £315m which will be financed by Nomura. Competition … Continue reading

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Praxis set to pip Kennedy Wilson to £250m Britannica ‘Project Panther’

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Praxis Real Estate is the frontrunner to buy the Britannica fund, paying just over £250m for the seven UK secondary shopping centres and edging out Kennedy Wilson, in a deal which is expected to crystallise a near £100m loss to … Continue reading

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