Cain Hoy in Shell Centre loan
Guggenheim Capital Group affiliate, Cain Hoy, is providing Almacantar with £370m to finance its £550m purchase and office redevelopment at the Shell Centre, SE1. Lloyds Banking Group, Barclays, HSBC and Qatari National Bank are providing Canary Wharf Group and Qatari Diar with circa £450m to fund the residential development.
Old Mutual fund merger
TIAA Henderson Real Estate is merging the £437m, CBRE Global Investors-managed Old Mutual Global Investors Fund into its £2.3bn Henderson UK Property OEIC. TH Real Estate will manage the vehicle’s 108 assets. The merger is set to complete in January.
SEGRO posts vacancy rate fall
SEGRO’s vacancy rate fell from 8.3% to 6.2% in the third quarter to 30 September. The industrial group completed 1.2m sq ft of schemes in the quarter, capable of generating £4.4m rent pa, of which £3.8m has already been secured.
Record returns for Ireland
Irish property has recorded a record return of 11% in Q3 2014, the highest quarterly figure since records began in 1995. The figure, up from 8.5% in Q2, was driven by record capital value growth of 9.2%.
Kennedy Wilson raises £350m
Kennedy Wilson Europe Real Estate has raised £351.5m through a new share issue. The listed vehicle plans to use the proceeds, which boosted its share capital by 35%, to fund purchases of real estate assets and loans.
