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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 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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Landesbank Baden-Württemberg (LBBW) has refinanced three assets in Michael and Steven Elghanayan’s EPIC portfolio with a five-year £70m senior loan, in one of three separate deals which amount to just under £250m in total. The three EPIC portfolio assets refinanced … Continue reading
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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 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 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 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
Davidson Kempner, the US hedge fund, is expanding its European real estate debt team with the hire of Starwood Capital’s Romain Ferron. Ferron leaves Starwood after almost four years working as a distressed real estate debt specialist at the end … Continue reading
