BNP in Tishman loan trio
BNP Paribas Corporate and Investment Banking has provided its third loan to Tishman Speyer this year. The £130m, five-year development loan will fund a refurbishment of the Victoria office block Eland House, SW1.
Situs seeks buyer
Loan servicer, advisory and asset management firm Situs has appointed investment bank Raymond James to sell the business. It is owned by Ranieri Partners, Brookfield Investment Management, the South Carolina Pension Fund and members of the Situs management team.
MEPC senior sell-down
Barclays plans to syndicate some of the senior debt in its 80% LTV £345m loan provided for Oaktree’s and Patrizia’s £431m purchase of three business parks from MEPC. Highbridge Capital Management bought the £75m mezzanine tranche.
Nama to offer €778m of NPLs
Irish bad bank Nama is to bring a €778m (£623m) non-performing loan portfolio to the market. The collateral is property owned by maths teacher turned real estate entrepreneur Gerry Barrett.
Aldermore shelves flotation
Challenger bank Aldermore has abandoned plans to float on the stock market, and will not revisit the idea until after the general election next May. A slide of almost 5% in the FTSE100 over the past month has prompted investors to approach listings more carefully.
