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Property Week Finance - Banks and Lending

News and features about lending to the property sector.
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Latest BANKS AND LENDING news

Graph - top 10 banks (UK)

Syndication deal volumes fall as investment market slows

17 February 2017

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.

Finance

Benson Elliot sources £30m loan for Slough purchase

2 February 2017

Benson Elliot has secured a £35m loan from pbb Deutsche Pfandbriefbank to help fund its acquisition of Slough Retail Park.

Lok'nStore, results, storage

Lok’nStore extends £40m banking facility to six years

31 January 2017

Lok’nStore, the self-storage company, has agreed a two-year extension to its existing banking facility with Royal Bank of Scotland.

The Madison residential tower

LBS secures £135m development loan for London resi tower

27 January 2017

LBS Properties has secured a £135m senior development loan from ICG-Longbow to fund the construction of The Madison residential tower near Canary Wharf.

Manorside Industrial Estate, Redditch

Wells Fargo shows faith in Paloma with £35m refinancing deal

26 January 2017

Paloma Capital, the fund manager co-founded by Joe Froud and Jack Pitman in 2015, has struck a £35m refinancing deal with Wells Fargo.

Care home

Target Healthcare REIT looks to increase debt facilities

26 January 2017

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.

European Banking Authority

Rule change leaves residential developers facing higher bank funding costs

20 January 2017

Changes to rules governing residential development lending by smaller banks are set to increase developers’ funding costs and could hamper housebuilding in the UK.

Finance

Ireland tops distressed debt sales in 2016

18 January 2017

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.

Property Companies

Students

Unite reports 12% NAV growth

22 February 2017

Unite Students has announced the acquisition of a development site in Manchester alongside full-year results that show EPRA NAV growth of 12%.

More property company financial news



Fund Management

Wardour Street Thor

Hermes real estate debt strategy completes £29m loan

17 February 2017

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.

More property fund management news

Mergers and Acquisitions

Hansteen portfolio

Hansteen secures 15.65% of IMPT in takeover battle

21 February 2017

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.

More news on property firm mergers and acquisitions