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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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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
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Venn Partners, an asset backed securities investor, has secured £500m in capital predominantly from cornerstone investor Siem Industries Group to originate European senior and mezzanine loans in new a subsidiary to be headed by former Citigroup managing director Paul House. … Continue reading
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Germany’s Finance Ministry has today confirmed the sale of the 780-strong State-owned TLG Immobilien real estate company for €1.1bn to Lone Star, in the government’s largest privatisation for more than five years. CoStar News first reported that Lone Star had … Continue reading
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Allied Irish Bank has received two final offers for its diminished UK non-performing loan (NPL) portfolio Project Pivot, reduced to a nominal value of around £100m, in what has become one of the most protracted and exasperating NPL sales so … Continue reading
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Morgan Stanley is considering a return to European real estate lending as soon as the first quarter of next year with a business plan under discussion internally which could pave the way for an origination model supported by partial syndication … Continue reading
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Allied Irish Bank’s sale of the UK non-performing loan portfolio Project Pivot has been revived this week after the near collapse of the NPL sale at the start of the week over pricing, CoStar News has learned. Project Pivot has … Continue reading
