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Bids were submitted last night to buy the seven remaining UK secondary shopping centres within the Britannica fund which fell into administration last September in a deal dubbed Project Panther. ING Bank, the Britannica shopping centre fund’s lead senior lender … Continue reading
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Commerzbank is targeting an end of the second quarter closing for the sale of the £4bn UK Eurohypo commercial property loan book to Wells Fargo and Lone Star, accelerating the permanent senior debt lending retreat of Germany’s second largest bank. … Continue reading
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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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Morgan Stanley has lost two further staff in its in-house European commercial real estate loan servicing team, with a decision over the long-running possible sale of the predominantly CMBS loan servicing book still seemingly hanging in the balance. Elmar Schoonbrood, … Continue reading
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Brookfield Asset Management, Benson Elliot and i-Star Financial are expected to be among bidders to submit offers at the end of March for Blackstone’s insolvent Deutsche Interhotel (DIH) group, the 10-strong hotel portfolio in Eastern Germany which is expected to … Continue reading
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Wells Fargo has teamed up with Lone Star to compete against Starwood Capital to acquire Eurohypo’s circa €5.2bn UK real estate loan book from Commerzbank, CoStar News understands. The two prospective buyers are understood to be frontrunners in a sales … Continue reading
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Starwood Capital, along with affiliate Starwood Property Trust, will close the $1.05bn acquisition of LNR Property next quarter, in a strategic acquisition which will expand the private equity firm’s European origination and distressed asset sales. While the two-part purchase is … Continue reading
Cerberus Capital Management has bought Admiral Taverns, once the UK’s third-largest largest pub company, from Lloyds Banking Group for around £200m in cash, severing the bank from one of its largest individual losses in the legacy HBOS commercial property loan … Continue reading
