Port One Logistics Park development in Suffolk is nearing completion of four new pre-let warehousing units following a £20 million commercial loan from Secure Trust Bank (STB) Real Estate Finance. According to developer Curzon De Vere, the units have been constructed with ‘eco credentials’ in mind, and feature EV charging ports and PV panels. The…
Finance
Paul McLennan, Scottish Government’s Minister for Housing, has referred to climate change as the “defining issue of our time” at the second Green Home Festival which is part of the 2023 Edinburgh Festival Fringe. The Member of the Scottish Parliament (MSP) was the keynote speaker at the launch of the five-day renewables jamboree in central Edinburgh organised by the Construction Industry…
Cushman & Wakefield recently facilitated US $73.3 million of acquisition financing for Hatcher Industrial, a state-of-the-art industrial park in Glendale, Arizona. The development spans 906,125 square feet and consists of two Class A buildings, completed in Q3-2023, with current vacancy. A Cushman & Wakefield Equity, Debt & Structured Finance (EDSF) team of Rob Rubano, Executive…
In advance of London Climate Action Week (LCAW), Paul Wrighton, Director of Sustainable Infrastructure for the UK and Ireland at Johnson Controls, says harnessing the diversity of the capital’s buildings, technology, financing and upskilling local communities are key to the Mayor’s ambitious targets. London Climate Action Week is harnessing the power of London for global climate action.…
Developer of EV-charging infrastructure inepro has received significant financial backing from ‘deal-by-deal’ capital finance platform Cape Investment Partners (CIP) to support its accelerated international growth. inepro, which launched in the Netherlands in 1990, manufactures and distributes smart metering solutions and RFID readers as one of the only few focused players in the European industry. The…
NEOM, Saudi Arabia’s ambitious giga-project and the venue for the 2029 Asian Winter Games, has signed SAR 21 billion (US$ 5.6 billion) of public-private partnerships to develop temporary ‘communities’ to accommodate workers during the first phase of development. The preferred investors for the first phase of the residential communities included Saudi companies Alfanar Global Development,…
Burges Salmon has advised The Electric Car Scheme (ECS), a UK-based salary sacrifice employee benefit start-up, on an innovative asset-backed lending facility from Triple Point Private Credit. Set up in June 2020 by Tom Eilon and Thom Groot, ECS allows employees (through their employer – similar to the popular Cycle to Work scheme) to lease…
Leumi UK has agreed a £13.75 million short-term loan with UK real estate fund manager Frogmore, to efinance Cotton Quay, an 8.5-acre waterfront site on Salford Quays, Manchester. The site has hybrid planning consent for 1,493 Build to Sell residential units, 475 hotel beds, as well as 31,000 sq ft of ancillary commercial space. Cotton…
Pinnacle Group is transfering a substantial majority of its share capital in UK district heating business Pinnacle Power to independent infrastructure fund manager DIF Capital Partners, with the management team retaining a minority stake under a sale agreement. Pinnacle Power plans to invest in £1 billion of green energy infrastructure projects, leading to the deployment…
abrdn’s Airport Industrial Property Unit Trust (AIPUT) fund has submitted a planning application at its London Heathrow Radius Park campus for an inaugural renovation project to be financed by a £350 million sustainability-linked credit facility from Wells Fargo Bank. The project signals the opening of a new chapter in the fund’s strategy to deliver highly…
Jardine Motors is the first UK “top ten” dealership to reduce carbon emissions with Veolia’s fully circular waste oil management platform. The automotive retail group which represents 14 premium and luxury brands including Audi, Mercedes, Ferrari and Porsche, took the decisive step to manage waste oil sustainably by contributing it to the circular economy. Jardine…
In a macro-economic context featuring several challenges including political uncertainty, rising interest rates, a surge in development costs and ESG-related pressures, the hospitality industry has shown great resilience with numerous signs of a well-engaged trading recovery. At an industry day hosted by Glion Institute of Higher Education London for its MSc Real Estate, Finance and…
Privately owned UK property services company Ian Williams has announced several senior internal appointments from April 2023 as part of its succession planning. The new team led by Zane Poyner, as managing director, represents a wide range of talent and experience. Key members include Jayne Cox, Finance Director, Amy Boothman, Sales & Marketing Director, Jason…
The European Investment Bank (EIB) and the Community of Madrid (CAM) have agreed EIB financing of €554 million of financing and R&D loans for the line 11 Metro extension between Plaza Elíptica and Conde de Casal in Madrid. Separate agreements for project finance and the financing of research and development activities have been signed in Madrid…
abrdn plc’s Airport Industrial Property Unit Trust (AIPUT) has secured £350m of new debt financing from Wells Fargo to deliver a transformational investment programme for its prime industrial real estate portfolio in the United Kingdom. The new Facility which consists of a split-term loan and revolving credit facility structure with an initial committed term of…
CREFC Europe, a trade association for real estate lenders and the European real estate finance market, has announced its new Chair Elect at its Annual General Meeting. Nassar Hussain of Brookland, already a member of the CREFC Europe Board, has stepped into the Chair Elect role. Chris Bennett of DekaBank takes over as Chair from…
UK commercial and industrial fit-outs and refurbishment specialist Pexhurst has been holding Mental Health Tool Box Talks across all of its live sites using professional occupational health and safety consultants, Safety Services UK. The consultants discussed mental health issues with site workers, outlined the support available to them and suggested ways in which they could…
Alternative property lender Cohort Capital has funded a £70 million facility for the acquisition of Lillian Penson Hall, a 100,000 sq ft purpose-built student accommodation (PBSA) development in the heart of London. The buyer is LPH Paddington Ltd, a company majority owned by Union Property Developments Ltd. The 313-unit, eight storey building on the historic…
Aviva Investors is extending the deadline to enter the Aviva Investors Sustainability Media Awards 2022. The new deadline will be Friday, 12th August 2022. The Awards, which recognises excellence in reporting across sustainability-linked topics in the UK media, aim to celebrate the consistently high standards achieved by publications in the national press, institutional and wholesale…
RO Capital Partners (ROCP), the RO Group’s venture capital arm, has led an investment round in AI and machine learning liquid sensor business InferSens alongside the Oxford Innovation Fund and Bruce Melizan, the former managaing director of Interserve’s support services division. ROCP’s contribution comprises £309,000 of the total £870,000 raised, which will be used as…
With National Volunteer Month underway in the United States, Aramark is recognizing several outstanding employee volunteers from around the world for their service to local communities during the Covid-19 pandemic. The group’s Be Well. Do Well sustainability plan outlines Aramark’s goal of making a positive impact by working to reduce inequity, supporting and growing communities,…
Funds advised by European investment fund advisor, DRC Savills Investment Management LLP (DRC SIM), financed a portfolio of 21 supermarket assets owned by Blackbrook Capital (Blackbrook). Blackbrook were advised by the EMEA Cushman & Wakefield Debt and Structured Finance (C&W) team on the financing. The portfolio is subject to long-term triple net leases to Eroski,…
Leumi UK, the London-based subsidiary of Duns 100 Israeli commercial bank, Bank Leumi, has hired NatWest director Chris Stallard as a relationship manager to support the lending ambitions of its property finance desk. Stallard brings 20 years’ banking experience – over a decade of which has been spent advising on real estate lending. At NatWest…
ASM Global has been selected to manage Olympia London as it undergoes a dramatic transformation as one of Europe’s most historic exhibition venues. The announcement is a critical step in the redevelopment of Olympia London and will see ASM Global take management responsibility for the exhibitions and events business. The move expands ASM’s…
Moody’s Investors Service (Moody’s) has today affirmed the Baa3 issuer rating and the Baa3 senior unsecured ratings of Hammerson Plc (Hammerson). At the same time, the rating agency has affirmed the Baa3 backed senior unsecured rating of Hammerson Ireland Finance DAC. The outlook of both entities has been changed to stable from negative. Rating-Action-Moodys-changes-Hammersons-outlook-to-stable-from-negative-affirms-Baa3-ratings-04Feb22-1
16.09.2021, 07:47 Celebrating Hispanic and Latinx Culinary Talent Aramark is recognising the contribution of Hispanic and Latino American employees through two initiatives dedicated to Hispanic Heritage Month in the United States. Launched by Congressman George E. Brown in 1968 in appreciation of the cultural and economic contribution of U.S. citizens whose families originated from Mexico, Spain, the…
31.08.2021, 00:17 DRC Embraces a Sustainable Energy Future The government of the Democratic Republic of Congo has entered into a Memorandum of Understanding with Eurasian Resources Group to mobilise US $300 million of investment in new battery storage and photovoltaic capabilities. The agreement, which was confirmed at a signing ceremony attended by Nicolas Kazadi, DRC’s…
02.08.2021, 09:49 Compass Group Announces New CFO Gareth Sharpe will succeed Sarah Sergeant as Compass Group UK & Ireland Chief Finance Officer. Sharpe joins the company from Tesco, where he served most recently as CFO for Asia during a 9-year career with the multinational groceries and general merchandise retailer that included time in the UK…
29.07.2021, 13:02 CBRE Announces Senior Internal Appointments CBRE has promoted Emma Giamartinoto to the position of Global Group President, Chief Financial Officer & Chief Investment Officer, and appointed Vikram Kohli as Global Group President for Business Intelligence. Giamartino previously served as the group’s Chief Investment Officer, with Kohli serving as SVP Business Insights &…
11.05.2021, 15:37 Championing Young Talent The inaugural Aramark Young Professionals 40 Under 40 Awards have recognised the talent and commitment of individuals nominated by leadership teams across the enterprise. Awards were presented during a special virtual symposium of the Aramark Young Professionals (AYP) employee resource group which engages and develops young professionals – one of the…
11.05.2021, 11:53 Renters Face Significantly Higher Housing Costs Housing costs are felt more by households that rent, according to new research by Vienna University of Economics and Business. The study which was led by Professor Emanuel List and Associate Professor Wilfried Altzinger from the university’s Institute for Money and Finance investigated the financial burden housing costs…
16.03.2021, 20:52 Breaking Ground with the U.S. Consulate General in Casablanca The Miller Hull Partnership, LLP, an internationally recognized architecture and planning firm, recently marked the groundbreaking of the new United States Consulate General in Casablanca, Morocco. The new U.S. Consulate General will be in Casa Anfa, a redevelopment of the 865-acre former Anfa…
29.01.2021, 07:16 Acquisition Finance Raised for Residential Complex Cushman & Wakefield has raised acquisition debt and joint venture equity financing for a 48-unit apartment complex in Boulder, Colorado. The purchase transaction for Glenwood Village Apartments at 2747 Glenwood Ct closed with an equity investment of US $11,000,000 and debt financing of US $7,000,000 with a…
19.01.2021, 14:10 Scrap UK Reverse Charge VAT Proposals SELECT, Scotland’s largest construction industry body, is joining other leading trade associations in again calling on UK Chancellor Rishi Sunak to withdraw ‘damaging’ Reverse Charge VAT legislation proposals. It is the second time the influential trade bodies have felt the need to press the case for…
10.12.2020, 19:17 FSU Dining Services Contract Aramark will assume responsibility for dining services at Florida State University after Sodexo’s early termination of a contract worth an estimated US $31 million annually. Under the agreement, Aramark will serve students, faculty, staff and visitors from more than 30 campus eateries, catering and athletic dining halls. FSU previously…
08.12.2020, 17:56 Loo of the Year Awards 2020 Axis Cleaning and Support Services has added to its tally of Loo of the Year Awards, after being chosen as a recipient in six categories, including “UK Washroom Cleaner of the Year”. The awards celebrate the best washrooms in the UK as adjudged by their quality and…
30.10.2020, 10:12 Baldwin Boxall Finance Director Retires Life safety systems manufacturer Baldwin Boxall has announced the retirement of Finance Director, Neil Williams, following thirteen years of service. Life safety systems manufacturer Baldwin Boxall has announced the retirement of Finance Director, Neil Williams, following thirteen years of service. Williams, who will be succeeded by Richard Frost…
20.10.2020, 18:17 Refinancing of Eighteen Capital Group Residential Portfolios Cushman & Wakefield has refinanced a loan on a nine-property apartment portfolio totaling 1,969 units in Arkansas, Texas, South Carolina, Indiana and Missouri. The US $108,000,000 cash-out refinancing deal involved a 10-year loan with interest only payments for the first two years, a fixed coupon of…
17.09.2020, 13:50 Stark Group Selects IFRS 16 Lease Accounting Solution Stark Group, the largest retailer and distributor of building materials in the Nordic region, is implementing Planon Universe for Financial Professioanls to help it comply with IFRS 16 lease accounting standards. Established in 1896 with headquarters in Denmark, Stark Group has been continuously developing and…
20.08.2020, 17:38 Metro Atlanta Residential Development Refinanced Cushman & Wakefield Denver’s Equity, Debt & Structured Finance Group has arranged a US $16.26 refinancing loan for Concord Chase Apartments, a 224-unit community development in Smyrna, Georgia owned by Eighteen Capital Group. Located at 300 Hurt Rd SE, the complex is situated approximately 10 miles northwest of…
06.08.2020, 13:48 ServiceMaster Names New CEO ServiceMaster has completed its search for a new Chief Executive Officer with the appointment of Brett T. Ponton who is expected to assume his new position on or before 1 October 2020. Ponton takes over from Chairman, Naren Gursahaney, who has held the post of Interim CEO after the…
18.06.2020, 12:00 PSNI Global Alliance Quality Cup Samsung, Shure, SYNNEX, Biamp and Chief have been recognised with “Quality Cup” awards by the PSNI Global Network of AV system integrators and manufacturers. The awards are based on a survey of PSNI members worldwide which measures overall levels of satisfaction with key areas of PSNI’s Preferred Vendor Partners (PVPs) programme.…
05.03.2020, 15:07 SME Forum to Colocate with AIM 2020 (Dubai, 24-26 March) The UAE Ministry of Economy will highlight the contribution of smaller businesses to the global digital economy at the SME Forum and Exhibition held with FM Industry partner event, the Annual Investment Meeting (AIM), from 24 to 26 March. Organised by the…
27.02.2020, 10:41 Keeping Green Construction Safe Klaus Allion, ANT Telecom managing director, says lone worker devices are assuming critical importance as a greener construction industry transitions to novel but frequently less understood building techniques and technologies. Sustainability is a topical issue for every industry and as such, the rate of businesses that are taking part…
25.02.2020, 12:03 Compass Announces Key Appointments Compass Group has strengthened its UK & Ireland Executive team following a series of senior appointments. Joining as Chief Marketing Officer (CMO) is Ian Cranna who spent 25 years at Starbucks. As Compass sharpens its focus on how it can utilise its scale and breadth to enhance the health…
16.12.2019, 11:11 Improving Community Life at Christmas More than half of 2,839 small businesses surveyed by Hitachi Capital Business Finance in the UK are participating in initiatives to support their local community. On average, small enterprises indicated they dedicate 12.96 hours a month towards helping to improve the communities they are located within –…
10.12.2019, 13:42 Destructive Workplace Paper Waste Mark Harper of HSM UK provides insight into how and why businesses need to introduce and maintain the correct processes when disposing of paper waste, to ensure they don’t get into hot water. In a busy, working environment it’s easy for sensitive data to land in the wrong…
21.10.2019, 15:18 Supporting Successful Mums A partnership between Axis Group and IT supplier, LP Networks, has recycled and donated laptops for use by Successful Mums which provides training and advice for women returning to work. In just four years Successful Mums has helped 5,000 women build their careers and businesses by providing training, networking and…
14.10.2019, 17:38 Avoiding GDPR Fatigue David Coleman, operations director at HSM UK, asks whether ‘GDPR fatigue’ is behind recent research finding that a third of businesses in the European Union are still non-compliant with the directive. Over the last 18 months, it’s clear GDPR has contributed to a complete overhaul of the way organisations…
27.09.2019, 14:38 Claire Waysand to Succeed Pierre Mongin at Engie ENGIE has announced Claire Waysand will replace Pierre Mongin as Group Executive Vice-President and General Secretary from the beginning of October. Waysand began her career at INSEE, before going on to hold various positions within the French Treasury Department. She served as a member of…
09.09.2019, 11:56 ‘Best Annual Report’ Award ISS A/S is the recipient of a ‘Best Annual Report’ award from the Confederation of Danish Industry (Dansk Industri) and FSR – Danish Auditors which represents auditors, accountants, tax and corporate finance professionals, for its 2018 group accounts The ISS global accounts team at the awards ceremony in Hus.…
12.07.2019, 09:51 Kensa Announces Senior Appointments UK ground source heat network delivery partner Kensa Group has made several internal promotions within its heat pumps, contracting and utilities subsidiaries as it celebrates its twentieth anniversary. Kate Clarke has been announced as the group’s new Finance Director, with Stephanie Gregory appointed as Director of Marketing. Kensa Heat…
11.06.2019, 11:52 Kier-Investec JV in New Brown Field Development Kier Property and Investec Structured Property Finance have announced plans to develop a six acre brown field site at Hatters Way in Luton, Bedfordshire into a 120,000 sq ft. Trade City and Logistics City. The site, which was recently acquired from Downton in a deal negotiated…
11.06.2019, 11:52 Kier-Investec JV in New Brown Field Development Kier Property and Investec Structured Property Finance have announced plans to develop a six acre brown field site at Hatters Way in Luton, Bedfordshire into a 120,000 sq ft. Trade City and Logistics City. The site, which was recently acquired from Downton in a deal negotiated…
28.05.2019, 10:28 Deka Immobilien Chooses MeteoViva Smart Building Solution Smart buildings and AI solutions provider MeteoViva has entered into a three-year framework agreement to equip at least 100 properties in global real estate asset management company Deka Immobilien’s portfolio with its patented MeteoViva Climate platform. The energy monitoring technology allows building owners, building portfolio and…
28.05.2019, 10:28 Deka Immobilien Chooses MeteoViva Smart Building Solution Smart buildings and AI solutions provider MeteoViva has entered into a three-year framework agreement to equip at least 100 properties in global real estate asset management company Deka Immobilien’s portfolio with its patented MeteoViva Climate platform. The energy monitoring technology allows building owners, building portfolio and…
08.04.2019, 14:02 Partners in Crime? Adam Branson asks whether the UK government’s anti-money laundering (AML) regime for property transactions measures up against provisions that are in place in other leading international jurisdictions. In July 2015, the UK government set out its stance on foreign criminals using the country’s property as a way to launder their…
26.03.2019, 13:13 Graham Prothero to Lead Galliford Try Graham Prothero has been appointed Galliford Try Chief Executive with immediate effect. Prothero, who joined the company as Group Finance Director in 2013, succeeds Peter Truscott who has handed in his notice and is expected to join the UK housebuilder’s smaller rival, Crest Nicholson. Andrew Duxbury, Group Financial Controller…