All articles by Mike Phillips... – Page 4
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Online
Lloyds picks buyer for £625m distressed loan sale
Lloyds Banking Group has picked a preferred bidder in the sale of a £625m distressed loan portfolio, propertyweek.com can reveal, as the bank continues to reduce its boom time property legacy.
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Online
Propinvest hits back over £950m administration
Propinvest today criticised the decision to put a portfolio it manages, which has an outstanding £950m loan, into administration.
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Online
Lenders pull plug on £950m loan
A £950m loan secured against a distressed secondary property portfolio has been called in by its lenders, in one of the biggest property insolvencies since the downturn, propertyweek.com can reveal.
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Online
Midweek Bulletin: Fitness First's CVA challenge
With the announcement today that landlords affected by the collapse of Fitness First in May had ditched plans to challenge the gym operator’s CVA vote, Property Week explores the ins-and-outs of the process.
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Online
Famous £200m London hotel on the block
One of Mayfair’s most prominent hotels is to be put up for sale for more than £200m by its listed owner.
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Online
Redefine strikes deal on former Wichford debt
Listed property company Redefine International has struck a deal with lenders to extend the maturity on a key loan facility.
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Online
Bruntwood secures major Manchester letting
Developer Bruntwood has completed a 40,000 sq ft letting at one of its Manchester Science and technology schemes.
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Online
Quintain continues to reduce gearing
Listed developer and fund manager Quintain Estates and Development today said it had received £90m of capital since April following key sales and development completions, which would be used to reduce the company’s gearing.
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Insight
Morgan Stanley division puts own office into receivership
A division of investment bank Morgan Stanley has brought in receivers to take control of a well-known Canary Wharf office building – let to Morgan Stanley.
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Online
Bids prompt £200m City office sale
A joint venture between a UK REIT and one of the world’s largest investment funds is getting ready to sell a £200m City office building after receiving a number of offers for the asset.
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Online
RREEF snaps up £56m retail duo
Fund manager RREEF has bought a pair of prime UK retail assets for its German clients.
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Online
US-Asian fund buys £150m City office
A US fund backed by Asian investors has bought a well-known office in the City of London that was secured by Lehman Brothers debt.
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Online
RBS achieves the near impossible with property reduction
Royal Bank of Scotland today revealed positive figures updating the market on its efforts to reduce its exposure to property.
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News
Time called on Warner Estate
Lenders pushing 150-year-old company to sell off assets to repay debt, which could lead to delisting
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News
Terra Catalyst bites the dust
Recession-ravaged Laxey fund set up to buy underperforming property shares faces early termination
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News
GM Real Estate raids rival City agencies for top dogs
Firm poaches CBRE’s Dan Roberts and Jones Lang LaSalle’s Sam Boreham to lead leasing team
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Insight
Deutsche-managed £387m fund closes door on investors
A highly-leveraged £387m property fund managed by Deutsche Bank is proposing to bar investors from taking out their money for two years, as it moves towards restructuring its debt load.