Just a month after buying out Pramerica Real Estate Investors’ majority stake in Hong Kong skyscraper PCCW Tower, the locally-based real estate developer has sold a 50 percent stake in the asset to London-based Grosvenor.
2 min read · 24 January 2013
The Los Angeles-based firm has created a new position to enlarge its business in Europe by appointing Jean Lamothe as president
2 min read · 24 January 2013
The New York-based firm has acquired two Atlanta multifamily properties, formerly owned by Fairfield Residential, out of foreclosure. Fairfield filed for Chapter 11 bankruptcy protection in 2009.
2 min read · 24 January 2013
Eight months after being selected as the preferred bidder, the real estate arm of Leon Black’s buyout shop has formally taken over the Citi Property Investors platform and funds. Apollo is believed to have paid a ‘nominal’ fee for CPI.
2 min read · 24 January 2013
The Washington DC-based firm, which is targeting $400m for its US government-focused real estate fund, has promoted Andrew Pulliam. The fund held a $100m first close in July.
1 min read · 24 January 2013
The mortgage REIT eyes a repeat of its recent Extended Stay mezz deal, with president Richard Saltzman saying it would pursue debt opportunities ‘where the air is thinner’ and where less capital was chasing transactions.
2 min read · 24 January 2013
The EU parliament has accepted compromise proposals put forth by the rival EU council, ushering in a new wave of rules on fund transparency, remuneration, asset stripping and non-EU funds and managers.
3 min read · 24 January 2013
The Canadian Pension Plan will continue to target the asset class after its real estate portfolio rose in value by C$2bn in the six months to September.
2 min read · 24 January 2013
The fund of funds landscape is changing, argues CB Richard Ellis Investors’ Jeremy Plummer, with blind pools increasingly becoming a thing of the past. Facing a J-curve is something the sector's investors are keen to avoid, he says.
3 min read · 24 January 2013
Starwood founder Barry Sternlicht has warned that in the search for yield in the US, some lenders are returning to the days of 2007 and 2008 and failing to underwrite actual cash flows.
2 min read · 24 January 2013
