The data sheet is back after taking a summer break and this week features a collection of some of the largest deals and loans, plus successful fund raises, during July.
In the lending market in July, both banks and non-bank lenders wrote some chunky loans for well capitalised, experienced borrowers. Most were delivered via clubs, like Allianz Real Estate and Helaba’s €700 mln loan for Unibail-Rodamco-Westfield for refinancing the regional Oberhausen shopping centre in Germany.
An exception was Cale Street Investors which provided bilateral debt structured as a bond for Primonial REIM for a refurbishment of a La Defense tower. The Hopen Tower project involves raising the building by three floors.
There were plenty of €150 mln-€350 mln deals closing, with transactions which started in the busy early part of the year crossing the line.
Office transactions included deals in Paternoster Square (Goldman and Greycoat buying from Shimao) and the Department of Transport’s Victoria HQ, both in London, as well as sales in Rome, Frankfurt, Bonn and Stuttgart.
Several logistics portfolios traded as did a large Helsinki shopping centre which has a track record of strong and sustainable retail sales.
In the equity raising sector, there were closes for two new debt funds (BNP Paribas AM and Barings) among the nine vehicles tracked this time.
Next week’s data sheet will round up the August activity.
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