UK boosts CBRE results
A 22% hike in UK turnover pushed CBRE’s global turnover to $7.2bn (£4.4bn) in 2013. The 11% growth in global turnover was matched by an 11% rise in EBITDA to $1bn, with every major business line showing growth.
Conygar agrees RBS refi
The Conygar Investment Company has agreed a £37.2m secured loan with RBS to replace a Lloyds facility secured on the same 20-asset portfolio. The package, at 4.3% interest, comprises a £27.2m four-year loan and a £10m revolving facility.
?BL lifts Hercules Trust stake
British Land is investing £41m to increase its stake in the £1.5bn Hercules Unit Trust from 49.2% to 54.2%. The move will see the 17-strong retail park fund brought on balance sheet. British Land has applied to buy a further ?£25m of units.
?LondonMetric transacts £1bn
Retail specialist LondonMetric invested £202m in Q4, boosting it to £1bn of investment activity since last year’s merger of London & Stamford and Metric Property Investments. The acquisitions had an average yield of 7.9%. The £129.7m of assets had an average yield of 6%.
?Euro loan sales to jump 32%
European loan sales are forecast to rise by 32% this year to more than €40bn (£33bn), according to Cushman & Wakefield Corporate Finance. It said 10 transactions totalling €7.1bn had already closed this year.
