Finance & RecoveryAll the latest finance and recovery news in the property market. Banks and lending, money and investment, property derivatives, property yields and property prices.
Finance & recovery news
The Abu Dhabi Investment Authority (ADIA) and an overseas client of Axa Real Estate Investment Management are vying to buy Land Securities’ £200m 50% stake in the 1.5m sq ft Bristol shopping centre, Cabot Circus.
Silly names for serious collections of assets.
Peel Land & Property has completed a £266m refinancing agreement with a club of five banks.
US hedge fund Varde Partners is close to buying a £65m portfolio of distressed assets from the Royal Bank of Scotland’s West Register division.
Tritax has raised £200m to invest in “big box” UK logistics properties by establishing an industrial REIT.
Shaftesbury has entered into a new £125m five-year revolving credit facility with Lloyds Bank in a refinancing agreement.
NewRiver Retail has bought the Baronsgate’s Magnetic North portfolio of three malls in Scotland and north-east England for £24m.
Local Shopping REIT has today announced a drop in its net asset value per share.
Newcastle’s largest deal of the year so far has taken place, with the sale of the 99,899 sq ft Regent Point office building.
Orion Capital Managers has closed its Orion European Real Estate Fund IV at €1.3bn, one of the biggest European fund raisings since the downturn.
Henderson Global Investors and TIAA-CREF announced this morning that they had joined to form a new global real estate investment management company. Property Week takes an in-depth look at the union.
Improving economic growth of 0.6% in Q2, which is spot on the long term trend rate and double the figure for Q1, is encouraging news.
The hint of optimism that was seen amongst small and medium to large businesses in August has permeated all groups in the survey.
Delegates at this year’s IPD/IPF Property Investment Conference on 14-15 November at the Grand in Brighton, will be more optimistic about the future of the traditional spheres of commercial real estate, but that will not unwind the changes that have emerged in allocation since the downturn.
The sound of champagne corks popping has started to gently reverberate around the industry again as a result of the availability of credit.
As autumn approaches it is already possible to look back over 2013 as a year of improving market liquidity and a shift in emphasis from the restructuring of delinquent loans towards new financing as a realistic solution for both lenders and borrowers.