Nashville-based Giarratana Development has secured $75.9m in loans for the construction of the SoBro luxury rental apartment tower in downtown Nashville, Tennessee. Chicago-based BMO Harris Bank provided a $58m senior construction loan, while New York-based NorthStar Realty Finance – through its lending entity QARTH Holdings NT-II – provided a $17.9m mezzanine loan on the $90.8m project. […]
Deutsche Bank has sold off a $940m financing package it provided for a national portfolio of nursing homes operated under the SavaSeniorCare name and controlled by real estate mogul Rubin Schron. The single floating-rate mortgage loan – with an initial two-year term and three one-year extension options – is secured by a portfolio of 167 […]
The UK lending market is “nowhere near dangerous territory” despite a record number of new entrants driving down margins and the first signs of loan to value ratios rising. In his annual Financing Property presentation this morning, this year called ‘Growth is here. Are the foundations solid?’, William Newsom of Savills said that there are a further 52 […]
Lloyds Bank Commercial Banking’s property lending teams this year expect to top the £6.9bn they lent to the sector in 2013. Last year’s figure was the highest since 2007, with about £2.5bn lent by each of the mid-markets and global corporate divisions and close to £2bn by the small and medium-sized enterprises team. John Feeney, […]
Asian lenders power up Battersea Four Asian banks have under- written £790m of development finance for the Malaysian owner- developers of London’s Battersea Power Station site. Malaysia’s CIMB Bank and Overseas Chinese Banking Corporation, Singapore’s Maybank and Standard Chartered provided a 3.5-year facility for phase 1, including the power station refurbishment, and a five-year loan to […]
JANE ROBERTS Lloyds makes a bigger splash as debt tide shows signs of turning
The Commercial Real Estate Finance Council Europe has formed a European lender committee to produce lending market standard principles for property finance, chaired by BNP Paribas head of real estate finance Peter Denton. The group will circulate draft guidelines to CREFC members in the next two weeks, before releasing them to the market. The investor […]