Property Week Finance - Banks and LendingNews and features about lending to the property sector.
Latest BANKS AND LENDING news
The volume of syndicated commercial property loans in the UK and across Europe, the Middle East and Africa (EMEA) fell sharply in 2016, Dealogic data has revealed.
Benson Elliot has secured a £35m loan from pbb Deutsche Pfandbriefbank to help fund its acquisition of Slough Retail Park.
Lok’nStore, the self-storage company, has agreed a two-year extension to its existing banking facility with Royal Bank of Scotland.
LBS Properties has secured a £135m senior development loan from ICG-Longbow to fund the construction of The Madison residential tower near Canary Wharf.
Paloma Capital, the fund manager co-founded by Joe Froud and Jack Pitman in 2015, has struck a £35m refinancing deal with Wells Fargo.
Target Healthcare REIT is “actively exploring opportunities to increase its available debt facilities, which when complete would be used to fund near-term investment opportunities,” the company said in its latest results statement.
Changes to rules governing residential development lending by smaller banks are set to increase developers’ funding costs and could hamper housebuilding in the UK.
Ireland was the most active country for real estate distressed debt transactions during 2016, according to the latest figures from Evercore Real Estate Portfolio Solutions.
Unite Students has announced the acquisition of a development site in Manchester alongside full-year results that show EPRA NAV growth of 12%.
Hermes Investment Management has provided a £29m loan to the joint venture of Thor Equities and Chenavari Investment Managers to fund the acquisition of 147-155 Wardour Street in London.
Mergers and Acquisitions
Hansteen Holdings has acquired 14.81% of the shares in Industrial Multi Property Trust (IMPT) following its 300p takeover bid for the company last Friday.