Mike Phillips
UK Editor at Bisnow
UK editor of Bisnow, write about anything to do with real estate as long as it's genuinely interesting
Articles
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1 week ago |
bisnow.com | Mike Phillips
Brookfield's Citypoint tower Holders of debt secured against one of London’s largest office towers have agreed to a restructuring proposal from owner Brookfield, including a three-year extension to the maturity. With more time from lenders, Brookfield will now begin the work of improving the sustainability credentials of the building, filling vacant space and improving the value.
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1 week ago |
bisnow.com | Mike Phillips
About £685M of debt secured against a UK logistics portfolio owned by Blackstone has been bought by bond investors despite volatility in financial markets created by U.S. trade policy. Three loans from Citigroup were packaged and sold as commercial mortgage-backed securities, Real Estate Capital reported. The margin borrowers have to pay on debt has increased in recent weeks as financial investors react to falling prices in bond markets, equities and the dollar.
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2 weeks ago |
bisnow.com | Mike Phillips
Brookfield’s $102B real estate division has sold an 8% stake in one of the giant property funds it manages to an insurance company under its ownership. That same insurer has picked up $2.5B in other Brookfield assets in the last two years. Other investors, including Apollo Global Management, KKR and Blackstone, have also bought or partnered with insurance companies in recent years.
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2 weeks ago |
bisnow.com | Mike Phillips
The UK real estate market is not fully pricing in the expenditure needed to make sure properties are compliant with sustainability regulations. That means there’s still a chance to sell assets that can’t be made green before values drop precipitously.
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3 weeks ago |
bisnow.com | Mike Phillips
Canadian investor Brookfield has laid out a proposal to extend and restructure a loan secured against one of the largest office towers in the City of London. Brookfield is seeking to extend £460M of debt secured against the 704K SF Citypoint office building. That comes the same week the building's second-largest tenant said it would leave in 2030. Brookfield acquired Citypoint in 2016 for £607M by buying into its debt after it previously went into receivership.
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RT @peterproperty: Mammon 1, God, nil. A bitter tale of how a Church pension fund backed the grandson of circus owner Bertram Mills to take…
Presenting this year's Bisnow Women Leading Real Estate list, 24 for '24. Having produced this list five times now, we decided to revisit the first iteration, to find out how the industry has changed. You can find out here. https://t.co/bfS7j6Bryq
No new Chelsea stadium at Earls Court it would seem https://t.co/49k91gtBUe