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Latest BANKS AND LENDING news
Laxfield Group, a real estate debt investment manager, has revealed that it is now able to fund individual loans of up to £100m thanks to an increased allocation of capital for its Laxfield National programme.
Lloyds Banking Group has offloaded 84 bank branches in sale-and-leaseback deals in a bid to boost its balance sheet ahead of its return to full private ownership.
OakNorth Bank has provided a £16m development loan to the Mason family, who are well-known property investors and advisers in Liverpool, for a new 202-bed aparthotel in the city.
Vero Group has rebranded as iQ Student Accommodation and secured a £305m debt facility arranged by Morgan Stanley with participation from RBC Real Estate Capital Partners.
Bruntwood has secured a new £115.5m long-term debt facility from Aviva Investors Real Estate Finance.
It is not just lenders whose appetite for risk is waning in the wake of the EU referendum. Borrowers have also become a lot more circumspect, data on the commercial property debt market from Laxfield Capital has revealed.
The owner of London’s landmark hotel Grosvenor House has emerged from administration thanks to a refinancing deal with the billionaire Reuben brothers, Property Week can reveal.
University Partnerships Programme (UPP) has completed the close on £104.7m deal to fund student accommodation at the University of London.
Empiric Student Property has acquired the freehold of a 220 bed student accommodation scheme in York for £23.3m.
AXA Investment Managers - Real Assets (AXA IM - Real Assets) has appointed Yoshihiko Hayafuji as Head of Japan, effective immediately.
Mergers and Acquisitions
Care provider HC-One has completed the acquisition of Helen McArdle, the largest independent care home operator in the North East of England.