Latest news with #EastdilSecured
Bloomberg
05-06-2025
- Business
- Bloomberg
NYC Buildings in Midtown, SoHo Are Going Up for Sale by SL Green
SL Green Realty Corp. is marketing two Manhattan buildings for sale as demand for the city's office properties heats up. The landlord hired brokerage Eastdil Secured to market 110 Greene St., a SoHo office building with a Balenciaga store, and 690 Madison Ave., a property just one block from Central Park that houses jeweler Van Cleef & Arpels, according to marketing materials viewed by Bloomberg.
Fashion United
22-05-2025
- Business
- Fashion United
Asda reportedly mulling 400 million pound sale of stores
British supermarket giant Asda is believed to be looking into selling 20 of its stores for around 400 million pounds in order to back its turnaround plan. According to Green Street News, the retailer is said to be planning to offload the stores and lease them back for the next 20 years. The media outlet reported that Asda has enlisted property advisor Eastdil Secured to oversee the sale. In a statement to Green Street, a spokesperson for Asda said: 'Sale-and-leasebacks have been a feature of the retail industry for many years. 'While maintaining a strong freehold base remains central to Asda's property strategy, we will consider suitable opportunities to unlock value from our property portfolio as part of our material programme of investment into the business.' The move comes shortly after chairman Allan Leighton returned to Asda after a 20-year hiatus, bringing with him the mission of strengthening price position and establishing better customer perception of value. It was around this time, November 2024, when Asda also made a series of redundancies, with approximately 475 staff believed to have been impacted by the cuts. In the year December 31, 2024, the company had reported a revenue decline of 0.8 percent to 21.7 billion pounds, as increased competition resulted in market share loss. FashionUnited has contacted Asda with its own request to comment.
Yahoo
21-05-2025
- Business
- Yahoo
Asda plots £400m store sell-off to raise cash
Asda is planning to sell about 20 supermarket stores for £400m to generate more cash for the business. The supermarket chain is looking to offload the stores, which are located across the country, and lease them back for around 20 years. It has appointed property adviser Eastdil Secured to seek out buyers, according to property-focused publication Green Street News. Sale-and-leaseback deals are popular among major supermarkets as a means of raising capital to shore up their balance sheets. Sainsbury's sold and leased back some of its supermarkets for £500m in 2022, while Morrisons completed a £220m deal with asset manager ICG during the same year. In Asda's case, the retailer has been saddled with a hefty £3.8bn debt pile after a £7bn takeover in 2021 by private equity firm TDR Capital and brothers Mohsin and Zuber Issa. Zuber stepped down as co-chief executive in June, selling his stake in the retailer to TDR. Mohsin followed suit in stepping down from his leadership role in September, but kept his shares. Allan Leighton, a former chief executive of Asda, returned to the business in November after a 24-year absence, to help turn its fortunes around. His strategy has included launching a fresh supermarket price war, which involves funding price cuts, improving the availability of products and refreshing tired stores. Analysts have estimated that the company's plans will cost close to £900m over the next three years. Leighton has warned that Asda's profits will suffer a 'material hit' this year to fund that investment drive, along with cuts to jobs and bonuses. Despite Asda's debt pressures, Mr Leighton appears to be relaxed about the issue. He said in March: 'People always ask me about the balance sheet, but I'm not over-concerned about it. 'Most of our [debt] maturity dates have been pushed well out [into the future]. The only time I'd ever be concerned about [it is] if I felt that was restricting us investing in the business.' He also continues to search for a new chief executive for the business. An Asda spokesman said: 'Sale-and-leasebacks have been a feature of the retail industry for many years. 'While maintaining a strong freehold base remains central to Asda's property strategy, we will consider suitable opportunities to unlock value from our property portfolio as part of our material programme of investment into the business.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mirror
21-05-2025
- Business
- Daily Mirror
Asda to sell off 20 supermarket stores to raise £400million
The supermarket reportedly plans to offload the stores and lease them back for around 20 years and Asda has appointed property advisor Eastdil Secured to manage the sale Asda is planning to sell around 20 stores in order to raise £400million. The supermarket reportedly plans to offload the stores and lease them back for around 20 years. Asda has appointed property advisor Eastdil Secured to manage the sale, according to Green Street News. An Asda spokesman said: 'Sale-and-leasebacks have been a feature of the retail industry for many years. 'While maintaining a strong freehold base remains central to Asda's property strategy, we will consider suitable opportunities to unlock value from our property portfolio as part of our material programme of investment into the business.' It comes after Allan Leighton returned to the supermarket last November after 25 years to help with a major turnaround plan. In March this year, the new chief executive warned there would be no 'quick fix' to get the supermarket back on track after its total sales, excluding fuel, hit £21.7 billion last year – down 0.8% from the year before. It ended the year with net debt of £3.8 billion, and about £800,000 cash on its balance sheet. Some of the measures he has introduced include Asda bringing back its Rollback pricing scheme, which saw the prices of more than 4,000 products in store and online slashed by an average of 25%. Mr Leighton said its sales last year were 'disappointing' and its profit was 'OK-ish', adding: 'Obviously there are one or two things that we need to fix: our pricing, our availability, and our range architecture – that has all started … we're starting to make some progress. 'We're flagging a significant investment back into the business, and that is going to materially reduce our profit in the short term as we rebuild the business and we rebuild our market share.' Asda previously said it expects business costs to surge by between £75million and £80million after changes to National Insurance and minimum wage. Mr Leighton said: 'Like everybody else, we have to face into that. We're managing those cost headwinds, but at the same time investing significantly in the growth of the company. 'That's why we flagged it will have a material impact on our profitability, because we're determined to invest in the company for the mid and long term, not for the short term.'
Business Wire
28-04-2025
- Business
- Business Wire
Walker & Dunlop Expands European Team with Javier Villanueva
LONDON--(BUSINESS WIRE)-- Walker & Dunlop, Inc. (NYSE: WD) announced the expansion of its London-based brokerage and capital markets advisory team with the strategic hire of Javier Villanueva as managing director. Villanueva, an Eastdil Secured veteran, will report into Claudio V.R. Sgobba, senior managing director and Head of EMEA Capital Markets. He will be responsible for leading the structuring and execution of capital solutions across all property types and jurisdictions throughout Europe and the Middle East. 'We are bringing together a group of financial professionals, true global citizens and bankers, driven by an unwavering dedication to exceed client expectations. Javier is a perfect representation of our team and brings along with him deep expertise and a great network,' said Sgobba. 'Villanueva brings 25 years of experience and over $55 billion of deal activity in commercial real estate, having worked at premier firms focusing on investment banking, advisory, investment management, lending, and structuring. He will be a true asset as we continue to grow our Walker & Dunlop footprint in this part of the world.' Prior to joining Walker & Dunlop, Villanueva was a managing director, acting as head of investment management at Martley Capital Group, a real estate investment advisory platform focused on investing, lending, asset management and advisory. In addition, Villanueva spent nearly a decade at Eastdil Secured in London, joining in 2014 as the firm was setting up operations in EMEA. Focusing on debt solutions, he helped grow the nascent platform into the top advisory firm in EMEA. Previous roles include positions at LNR, Wachovia and Deutsche Bank in London, Nomura and MUFG Securities in New York. Walker & Dunlop established its Mayfair London office earlier this year. Walker & Dunlop's current EMEA leadership includes former heads of debt and equity capital raising desks, bringing invaluable expertise from esteemed institutions such as ING, RBS, KKR and Standard Chartered Bank. 'I am thrilled to join Walker & Dunlop at a pivotal moment in its growth. Having been in a similar circumstance previously in my career, I appreciate the 'secret sauce' that is vital to international expansion in this region,' said Villanueva. 'As former investors and lenders ourselves, this team of deal makers possesses decades of experience that transcends mere advisory roles.' About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry.
