Deutsche Bank Commercial Real Estate Group on its first SONIA loan
Deutsche Bank Commercial Real Estate Group on its first Sterling Over Night Index Average (SONIA) benchmark based loan. This marks not only Deutsche Bank's first alternative rate loan, but also one of the first adoptions of a loan referencing an average of overnight SONIA in the entire market. The benchmark was used an alternative to London Inter-Bank Offered Rate (LIBOR). The loan references a compounded average of SONIA set in arrears with a five business day lag.
Phoenix UK on the purchase and restructuring of distressed debt and an equity investment
Acting for Phoenix UK Fund Limited in relation to the purchase and restructuring of distressed debt (originally provided to the Stanley Gibbons Group by a UK bank) and its associated equity investment into Stanley Gibbons plc, the specialist retailer of collectable postage stamps and similar products, and on the purchase of certain assets out of administration.
A joint venture between two large German real estate companies on a EUR83m facility agreement
A joint venture between two large German real estate companies on a EUR83m facility agreement to refinance a portfolio of offices located across the Netherlands.
A German real estate fund owned by a high net worth individual on a variety of financings totalling almost EUR400m
A real estate fund owned by a high net worth individual on a GBP180m senior and mezzanine facility provided by an investment bank to assist with the acquisition of a portfolio of hotels located around the UK. In addition, the team has advised on a GBP130m facility arranged by an investment bank in connection with the acquisition of a group of companies (incorporated in England and Gibraltar) which own a portfolio of 26 hotels throughout the UK and on the EUR80m facility arranged secured against an office building in Germany. The three deals together bring the total loan values to circa EUR400m.
The lender on a GBP55m loan facility to GCP Student
The lender on a GBP55m loan facility to GCP Student, the first UK student accommodation REIT listed on the LSE, for forward funding of the development of a 555-bed purpose built student accommodation in Brighton.