106 Spring Street with SL Green’s Marc Holliday of SL Green and Paceline Equity Partners’ Sam Loughlin (Google Maps, iStock)One of Soho’s priciest retail properties, which SL Green Realty owned then lost, traded hands at a UCC foreclosure auction.The roughly 6,000-square-foot retail space at 106 Spring Street, which has been vacant for years, sold to a Texas private equity firm earlier this month, Commercial Observer reported. The sale price was not disclosed.The buyer, Paceline Equity Partners, called it a “unique asset” that could benefit from the post-pandemic economic recovery. CEO Sam Loughlin said the company has a “patient view of the recovery timeline for the Soho retail property market,” according to the publication.SL Green bought the space in 2019 for $79.5 million from the Carlyle Group and 60 Guilders. The purchase price was a 25 percent discount from the $105 million those investors paid in 2016. SL Green had acquired a nearby retail space, 133 Greene Street, from the same sellers in 2018.ADVERTISEMENTCitizens Bank was the lender on SL Green’s interest in both properties, and foreclosed on that interest, as well as the one at 133 Greene, late last year. The foreclosure triggered the UCC auction, which was originally set to happen in December.Mezz lenders — which provide junior debt on real estate projects — are increasingly initiating UCC foreclosures on some major developments in need of “rescue funding.”It was unclear how big Citizens’ mezzanine position was, but according to SL Green’s second-quarter financials, 106 Spring and 133 Greene streets carried a combined $53.5 million in senior and mezzanine debt as of late June.[CO] — Amy PlittContact Amy Plitt Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink RetailSL GreensohoUCC foreclosure Full Name* Share via Shortlink Message* Tags Email Address*
On Thursday 2 August 2012, the High Representative of the Union for Foreign Affairs & Security Policy/Vice-President of the European Commission, Catherine Ashton, visited the EU Naval Force (EU NAVFOR) counter piracy operation headquarters (OHQ) in Northwood, UK. She was welcomed to the OHQ by Rear Admiral Duncan Potts, who is the Operation Commander to the EU NAVFOR.During the visit, Rear Admiral Potts updated the High Representative on EU NAVFOR’s counter piracy operations off the Horn of Africa, together with how, in line with the EU’s Comprehensive Approach to Somalia, EU NAVFOR continues to provide support to local and regional maritime capacity building programmes.Speaking about the visit, Rear Admiral Potts said “We are always very pleased to invite High Representative Ashton to the Operation Headquarters. Over the last 12 months we have witnessed considerable change, not least the reduction in piracy success, but also a greater focus on strengthening EU relationships with regional states and assisting them with training their forces in maritime security. The EU NAVFOR stands ready to provide further support to continue this success.”[mappress]Naval Today Staff, August 3, 2012; Image: EU NAVFOR UK: European Union High Representative Visits EU NAVFOR OHQ View post tag: European View post tag: OHQ View post tag: Navy View post tag: Representative View post tag: High View post tag: NAVFOR View post tag: Naval View post tag: News by topic View post tag: EU Authorities View post tag: visits View post tag: Union August 3, 2012 Back to overview,Home naval-today UK: European Union High Representative Visits EU NAVFOR OHQ Share this article
A termly meeting in which junior deans are encouraged to “exchange war stories” has been condemned by welfare staff as “entirely inappropriate”.The junior deans’ dinners, which began in Hilary 2013, are termly social events for deans to meet. Concerns have been raised after the email organising the Michaelmas meal described the event as “a time and space for junior deans to come together to confidentially compare experiences” and “trade war stories.” It continues, “Most importantly, this is done over a relaxed dinner and a fair few drinks.” The email was sent to all junior deans in the University.A room was booked for the event to ensure “we have the privacy we’d need to discuss College issues.” One anonymous dean, who revealed the event to Cherwell, condemned the events. “My opinion is that organising a social event around which to discuss these cases is entirely inappropriate. There is already a very well thought-out system in place by the University Counselling Service which offers a forum to discuss issues presented by junior deans in an official, secure and confidential environment. “What seems to be lacking in this case is the understanding that colleges are small environments: maintaining confidentiality isn’t just about the withdrawal of names, it is about the withdrawal of information that could lead to the identification of the person or persons from the divulgence of information.”They continue to describe the event as “wholly inappropriate”. They said, Junior Deans “who are often entrusted with information of a sensitive nature”, should not be prepared to “to divulge this information ad libitum to peers outside of a formal structured setting.”They went on, “I hope that university takes a strong approach to these ‘social’ events and recognises the potential for the breaches of confidentiality which may occur.”The dinner is being held on the Tuesday 3rd December, and follows on from a drinks event at the St Aldates Tavern at 8pm on Wednesday 19th June.The University, and the organisers of the event, did not respond to Cherwell’s request for a comment.