Le mie ricette per la real estate communityPalm Capital, the pan-European real estate private equity and special situations specialist, announces the acquisition from Lone Star of Project Falcon, a £150 million sub-performing loan book secured against a portfolio of 80 UK commercial real estate assets.
Project Falcon’s underlying portfolio is well diversified by asset class with 49% of high street retail and long let retail warehouses, 12% leisure, 15% logistics and 21% offices. The loan book, which was part of the Project Churchill portfolio, has an average maturity of over 8 years. The portfolio is spread across a variety of locations in the main UK markets and the underlying leases have a WALT of 8.5 years.
Palm Capital has identified this opportunity to gain an interesting exposure to the regional UK market, which offers a superior risk-return profile, a strong income yield and upside potential.
Source : Palm Capital