JCRA Laxfield one-stop shop
JC Rathbone and Laxfield Capital are teaming up form a new debt advisory service. JCRA Laxfield will bring together Laxfield’s expertise advising borrowers and lenders with JC Rathbone’s strength in risk management and hedging to provide a one-stop-shop for debt advisory. The new venture will work alongside Laxfield’s and JC Rathbone’s existing businesses.
Patrizia adds €900m UK assets
German investment company Patrizia added €900m (£661m) of UK assets to its portfolio in 2014 taking total UK AUM to €1.2bn. Overall, its portfolio was up by 24% to €14.6bn, more than half of which was in commercial real estate. Patrizia expects to increase its real estate assets by €17bn by the end of 2015.
Wells Fargo is top US lender
Wells Fargo has been named the most active US commercial mortgage lenders for the sixth year running by the Mortgage Banker’s Association. It provided more than $50bn (£33.5bn) in finance in 2014, $10bn more than the next biggest lender JP Morgan, which extended $39.9bn. Eastdil Secured loaned $36.7bn to take third place in the league.
Broadgate converts to REIT
British Land and Singaporean wealth fund GIC, the 50:50 owners of Broadgate, EC2, have converted the estate into a REIT. The new holding company for their joint venture will be called Broadgate REIT. The 30-acre site includes 16 separate buildings covering 4.7m sq ft.
