market
intelligence
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Commercial Banking

• Deutsche Bank names Borislav Ivanov as new head of Russian business

  
  Jun 26 -
  Deutsche Bank has named Borislav Ivanov as head of its Russian operations. Ivanov was most recently head of the bank's Ukrainian business. He will replace Annett Viehweg, who is leaving to pursue other opportunities.
  

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• Deutsche Bank acquires two London office buildings for $395M

  
  Jun 26 -
  Deutsche Bank's asset management arm acquired two London office buildings for $395 million from M&G Real Estate, betting that Brexit won't hurt the market in the long run. The properties were purchased for the Grundbesitz Europa Fund, which currently has invested in 59 properties, including nine in the U.K.
  

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• BNP Paribas to provide Harvest Global with access to Swiss-Hong Kong fund connection

  
  Jun 26 -
  BNP Paribas Securities Services was appointed by Harvest Global Investments to provide access to the Mutual Recognition of Funds scheme between Hong Kong and Switzerland. The fund manager is the first to qualify for the scheme after being granted approval by the Swiss Financial Market Supervisory Authority. As part of the deal, BNP Paribas will provide Harvest with services such as a foreign representative, paying agent and transfer agency to assist the asset manager distribute its Hong Kong authorized funds in Switzerland.
  

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Real Estate Finance

• Extell to secure $900M loan for New York project

  
  Jun 23 -
  Extell Development is in final talks for a $900-million loan for its Central Park, New York condominium tower project. The loan will fund Extell's 1,550-foot, 179-unit luxury tower located at 217 W. 57th St. The group of lenders includes JPMorgan.
  

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• Hampshire sells industrial portfolio in New Jersey for $146.85M

  
  Jun 20 -
  AEW Capital Management acquired a 1.22-million-square-foot, six-property industrial portfolio in Northern New Jersey from The Hampshire Cos. for $146.85 million.
  

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• Forkosh Development asking $118M for New York rental building

  
  Jun 22 -
  Forkosh Development Group is putting its newly developed 105-unit, 128,000-square-foot, 23-story rental building in Murray Hill, N.Y., on the market for $118 million. The property, which opened in March, has a ground-floor commercial space that has not yet been leased. Ahead Quarters will market the property, known as the Theater House, as either a hold or an eventual conversion to condominiums.
  

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Commercial Bankruptcy

• Premier Marine files for Chapter 11 after failed acquisition attempt

  
  Jun 21 -
  Pontoon maker Premier Marine has filed for Chapter 11 restructuring. The company sites the failed acquisition of another pontoon manufacturer as the reason for the filing. According to court papers, Premier listed liabilities between $10 million and $50 million, which is owed to between 200 and 999 creditors. The company also filed a motion to be allowed to continue honoring warranty claims, as well as a motion to continue paying employees.
  

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• SunEdison granted approval for bankruptcy agreement

  
  Jun 21 -
  The U.S. Bankruptcy Court approved SunEdison's motion for an order authorizing and approving its entry into a transition services agreement with Terraform Power. The debtors and TerraForm Power engaged in negotiations to reach an agreement that preserves the jobs of up to 138 employees.
  

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• A.M. Castle files fast-track Chapter 11 bankruptcy

  
  Jun 19 -
  A.M. Castle & Co., a global distributor of specialty metals and supply chain services, filed for Chapter 11 reorganization with a repayment plan for its creditors. The company aims to emerge from bankruptcy in about two months, listing about $329 million in debt. The top creditors include Timkensteel Corp. in Chicago with $2.5 million; Huntington Alloys in Chicago with $1.9 million; and The Boeing Co. of Atlanta, Georgia, with $997,421. A.M. Castle filed its so-called Prepackaged Joint Chapter 11 Plan for Reorganization. The plan was approved by 35 creditors listed in its filing.
  

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