Santander’s Stuart dies
Santander’s managing director of structured finance, Scott Stuart, died on 16 October, aged 42. Stuart joined the Spanish bank’s corporate banking division as a regional director in 2010 after four years at Lloyds Banking Group.
?M&G hire Lend Lease’s Brown
M&G Real Estate Investment Management has poached Lend Lease’s Tony Brown as its UK chief investment officer. He is on gardening leave from the Australian developer and fund manager, where he was director of investment management.
?Christie to manage Aviva fund
Aviva Investor’s troubled £318m Quercus fund is to be managed by former Grosvenor fund manager Tony Christie as maternity cover for Vicky Amlot. In July more than 70% of investors voted to extend the life of the fund, which saw asset values fall by 16% in the 2012-13 financial year, by five years.
?UK commercial values rise
UK commercial property values rose by 0.6% in September, the highest growth since 2010, said IPD. The total return for the month was 1.2%, outperforming bonds and equities.
?Aviva finances Northants mall
Aviva Commercial Finance has provided a £50m facility for Redefine’s £84m purchase of the Weston Favell shopping centre, Northampton, as ?part of a restructure of the investor’s retail portfolio. ?The 25-year loan has a fixed rate of 5.7% and will help reduce Redefine’s group LTV from 63.7% to 57.3%.
