News & Events

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March 29, 2017


Commercial Banking

  • Deutsche Bank opens innovation lab in New York City


    Mar 28 -
    Deutsche Bank has opened an innovation lab in New York City, which will be focused on several IT areas including AI, cloud technology and cybersecurity. The lab is located in Lower Manhattan’s Fulton Center and will allow the bank to “access a leading innovation ecosystem in one of the world’s largest financial hubs.” Deutsche Bank also has labs in Silicon Valley, Berlin and London.

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  • Citibank seeking partner for Asia insurance distribution deal


    Mar 28 -
    According to reports, Citigroup is looking to sell general insurance products across its Asia-Pacific markets, in a deal which could be worth at least $500 million. The multi-year distribution deal for products including motor, property and travel insurance, is expected to be among the largest of its kind in the region and provide insurers with access to 15 million Citibank customers in 12 markets including Singapore, Hong Kong, China, India and Australia. The bank will begin the process in the next few days and expects to select a partner in a few months.

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  • Banco Popular in talks to sell property portfolio


    Mar 28 -
    Banco Popular is in talks to sell its property portfolio, as well as a stake to Greek conglomerate Libra Group. Talks are reportedly in an advanced stage and Libra could invest between $380 million and $435 million in cash.

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Real Estate Finance

  • New York sees real estate lending fall in 2016 amid multifamily worries


    Mar 27 -
    Lenders pumped less money into the New York City real estate market in 2016 due to a slowdown in property sales and fears over the multifamily sector’s stability. Commercial real estate lending volume fell to $82 billion in 2016, down 17% from $99 billion year-over-year, according to CrediFi. Deutsche Bank took over the top spot in CrediFi’s lender ranking, growing its origination volume by 46% to $6 billion despite a difficult year that included a $7.2 billion settlement with the Justice Department over pre-crisis mortgages. Wells Fargo and Citigroup also grew their lending volume. Another notable trend in 2016 was the rise in non-bank lending. Blackstone Group cracked the top 10 for the first time, issuing more than $1.5 billion in loans over the course of the year.

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  • LaSalle closes on $185M Boston office tower


    Mar 27 -
    LaSalle Investment Management closed on 10 Post Office, a 14-story office building located in the center of Boston’s central business district, recapitalizing a joint venture with Synergy Investments. The property encompasses 450,000 square-feet in two interconnected towers. The asset was acquired on behalf of LaSalle Income & Growth Fund VII. Newmark Grubb Knight Frank worked on behalf of both parties.

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  • Blackstone REIT acquires $116M interest in Illinois tower


    Mar 23 -
    Blackstone REIT acquired interest in the bonds secured by a mortgage loan on Blackstone's 3.83 million-square-foot Willis Tower in Chicago, Ill. The REIT purchased $116-million of commercial mortgage-backed securities issued by a trust sponsored by Goldman Sachs and secured by a mortgage loan on the Willis Tower. The investment, which involves its affiliates, gives Blackstone a 49% participation in several tranches of the $1-billion mortgage loan securitization. Blackstone and its affiliates will forgo all non-economic rights (including voting rights) in the Willis Tower CMBS as long as the subsidiaries of the Blackstone-advised fund own Willis Tower.

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Commercial Bankruptcy

  • CHC Group emerges from bankruptcy with $300M in financing


    Mar 27 -
    CHC Group has concluded its financial restructuring and will emerge from Chapter 11. As part of its reorganizations plan, which was court approved on March 24, CHC will receive $300 million in new capital from its creditors. The plan also provides CHC terms for restructured aircraft leases and the option for additional asset-based financing commitments of $150 million from the Milestone Aviation Group.

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  • Creditors appealing approval of Peabody Energy's Chapter 11 reorganization plan


    Mar 23 -
    A group of creditors have said they plan to appeal a judge’s approval of Peabody Energy’s Chapter 11 reorganization plan. According to court documents, around a dozen money managers who voted against the plan requested an appellate court to review six issues decided by the judge. The complaints primarily focus on the terms of a private stock sale which formed part of Peabody’s plans to cut more than $5 billion in debt and exit bankruptcy. The company required creditors to support the reorganization plan in order to participate in the private offering.

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  • P10 Industries files for Chapter 11, signs restructuring support agreement with 210 Capital


    Mar 22 -
    P10 Industries filed for Chapter 11 and will use a prepackaged reorganization plan. The company also entered into a restructuring support agreement with 210 Capital. As part of the agreement, 210 Capital will invest $4.6 million in P10 in exchange for shares in the reorganized company. Additionally, 210 Capital will also provide up to $10 million of financing to be used for acquisitions.

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