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PIMCO, the global investment manager, has won the private debt auction to acquire a legacy Lehman Brothers commercial debt portfolio from Deutsche Bundesbank, Germany’s central bank. The Bundesbank sold the nominally-valued €238.78m Portfolio Green CMBS portfolio to PIMCO in a … Continue reading
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Deutsche Bundesbank, Germany’s central bank, is bringing to market the €238.78m Portfolio Green CMBS, a legacy Lehman Brothers securitisation, in a private debt auction arranged by AgFe, CoStar News understands. AgFe, the European structured finance advisory firm, is understood to … Continue reading
Lone Star and Deutsche Bundesbank, Germany’s central bank, agreed on Thursday night the final transfer of the remaining outstanding €960m notes in the former Lehman Brothers collateralised debt obligation (CDO), Excalibur, financed with a near €300m senior loan from Citigroup … Continue reading
In the final part of CoStar News’ analysis of Excalibur, we look at the deal’s CMBS bond portfolios and the Windermere XIV B-notes. Excalibur’s CMBS bonds Diversity Funding – outstanding €107.67m CMBS bond balance (Jan IPD) Lehman Brothers bought Northern … Continue reading
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In the second part of a CoStar News insight into Europe’s most beguiling structured real estate finance structure, the underlying borrowers that lay behind the remaining positions are unmasked, which is a reminder of how convoluted Lehman’s real estate strategies … Continue reading
Lehman Brothers’ legacy throughout European real estate lives on almost three-and-a-half years after its stunning collapse. Nothing better encapsulates the tangled web of its own making on this side of the Atlantic than the hastily-assembled collateralised debt obligation (CDO), Excalibur, … Continue reading
Lone Star has bought the €430.4m Carlyle loan, secured by a portfolio of bonds in a Lehman Brothers European CMBS, from Deutsche Bundesbank for €279.28m, reflecting a blended 35.11% discount. The sale, which CoStar News has learned was traded and … Continue reading
Lone Star, the global private equity firm, has bought 50% of the €1.8bn Excalibur portfolio, Lehman Brothers’ legacy securitised real estate debt, from the Bundesbank and is in exclusive talks to buy the remainder by the end of February, CoStar … Continue reading
