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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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Final bids are due this week for a pool of seven syndicated senior loans by Allied Irish Bank with a nominal value of around £200m, dubbed Project River, secured by portfolio of UK airport hotels owned by Arora Hotels. Project … Continue reading
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Lloyds Banking Group has selected Apollo Global Management, a joint Kennedy Wilson and Deutsche Bank bid, and Cerberus Capital Management as the finalists on the £495m Project Thames UK commercial property loan portfolio, CoStar News can reveal. Project Thames’ unpaid … Continue reading
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Marathon Asset Management, the US hedge fund, has paid €400m for Lloyds Banking Group’s Project Chamonix non-performing loan portfolio (NPL), reflecting a 52.9% discount to par value. Goldman Sachs’ Special Situations Fund and Cerberus Capital Management were understood to have … Continue reading
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Cerberus Capital Management has hired Ron Coggle in its European real estate team, after leaving Lone Star-owned Hudson Advisors last October. Coggle, the former European president at Hudson Advisors where he spent nine years, started on Monday at Cerberus. Coggle … Continue reading
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Lloyds Banking Group has shortlisted Cerberus Capital Management, Apollo Global Management, Goldman Sachs Special Situations Fund and Morgan Stanley Real Estate Funds to acquire the €850m Project Chamonix non-performing loan (NPL) portfolio, CoStar News can reveal. Project Chamonix is comprised … 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
