Returns slow to 1.4%
UK property total returns slowed to 1.4% in August, down from 1.6% in July as the real estate recovery lost momentum. According to the IPD, capital value growth slipped by 0.9% in August, compared with 1.1% the previous month.
Bank of Cyprus sells UK debt
Bank of Cyprus Group has ?sold its £289m UK loan portfolio to residential loan servicers Mars Capital Finance and Camael Mortgages. Oaktree Capital Management is a part-owner of Mars Capital Finance.
pbb refinances Frenchgate
Deutsche Pfandbriefbank ?has provided £100m to refinance the 800,000 sq ft shopping centre, Doncaster, Yorkshire. The mall is owned by Patrick McKillen, Padraig Drayne and affiliates of Colony Capital.
UGL to unload DTZ by year end
Australian engineering giant UGL has confirmed that it will complete its sale of property division DTZ before the end ?of the year. A TPG-led ?private equity consortium ?is buying the company for £675m. The transaction was expected to complete in September.
Grosvenor in £201m refi
Grosvenor Fund Management has completed a £201m refinancing of its London Office Fund. BNP Paribas Corporate and Investment Banking and Sumitomo Mistui Banking Corporation have provided ?a £201m loan to the four-strong vehicle.
