A partnership of Deutsche Bank and NorthStar Realty Finance is emerging as the victor in the battle to control the John Hancock Center, outmaneuvering Goldman Sachs, Blackstone Group and other investors vying for the well-known Chicago skyscraper.
A Deutsche Bank report over the restructuring of a $325 million loan on a Manhattan office building has touched off a dustup in the tight-knit world of commercial mortgage-backed securities.
Banks such as Goldman Sachs, Deutsche Bank and J.P. Morgan are weighing bids, while other lenders are looking to finance offers from private-equity firms.
In one of the largest single-lender loans since the property crash, the property arm of Allianz agreed to provide $458.8 million toward the purchase of Deutsche Bank’s Frankfurt headquarters.
One of the bright spots for BayernLB is Deutsche Kredit Bank, a unit with roots in communist East Germany, which dominates the apartment building and management business in eastern Germany.