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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
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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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Three finalists have emerged in the final bidding round for the former Treasury Holdings’ 16-strong Castle Market portfolio, with cash offers from each London & Regional and Kennedy Wilson competing against a CMBS restructuring proposal from Northwood Investors for the … 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
Kennedy Wilson has completed the purchase of the Ruby portfolio for a final price of £62.75m, finally concluding the ownership of a portfolio of assets contested in secondary CMBS, the courts and receivership. Noel Smyth’s vigorously-contested former portfolio of disparate … Continue reading
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Kennedy Wilson and Deutsche Bank have won Lloyds Banking Group’s Project Forth paying a greater than 50% discount for the £778.6m outstanding debt, bringing to an end a prolific year for the bank in commercial real estate non-performing loan portfolio … Continue reading
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Kennedy Wilson has emerged as the winning bidder for the 29-strong Ruby portfolio paying £57.5m, bringing to a closure the fate of the widely-contested former Alburn Real Estate portfolio. Savills, the LPA receiver appointed by primary servicer Rothschild on the … Continue reading
