The San-Francisco-based real estate investor says it’s looking to take advantage of recapitalisation opportunities given the problems in the current debt market.
1 min read · 24 January 2013
The Mexican billionaire has bought 417 Fifth Avenue from Goldman Sachs and Moinian Group for $140m – a 56% discount to its 2007 price. Ashkenazy is also reportedly set to close on the New York Knickerbocker Hotel this week for a 46% discount of its 2007 peak valuation.
2 min read · 24 January 2013
How to get the most benefit from public-private partnerships? It’s a question the whole of the US is wrestling with. In early June, Infrastructure Investor staged our annual Southeast Forum to find out how Florida, Georgia and Puerto Rico are becoming PPP pioneers.
7 min read · 24 January 2013
Wimbledon Bridge House, which was only acquired in September last year for £40m, has been sold for £58m
1 min read · 24 January 2013
As Morgan Stanley Real Estate Investing looks to invest its $4.7bn opportunity fund, the firm’s CEO of Japan, Yoshihiko Shigenari, says ‘speed and leverage’ are no longer the most critical elements of a deal. In China, MSREI’s head of Asia, Hoke Slaughter, says development deals ‘could make sense’.
2 min read · 24 January 2013
Crescent Resources, the property developer and manager with land in the South East and South West US, has exited bankruptcy protection after wiping $1bn of debt from its balance sheet and securing $150m in exit financing.
2 min read · 24 January 2013
LNR Property will launch a $400m rights offering to recapitalise its business. The firm, the parent company of the largest special servicer in the US, LNR Partners, has engaged Goldman Sachs and Bank of America Merrill Lynch for a new $445m loan which, together with the rights offering, will refinance a $868m senior loan.
2 min read · 24 January 2013
A joint venture fund between Mumbai based investment firms IL&FS and Milestone Capital Advisors has purchased a 74% stake in 247Park, a large business park in “the upcoming business corridor” in the Vikhroli area of the city.
2 min read · 24 January 2013
Investors convinced by digitisation and the increasing importance of data to business and social networking
2 min read · 24 January 2013
Together with Alberta Development, PCCP and Walton Street have paid off all loans secured against a Colorado retail and mixed-use centre. In buying back the debt, the JV was able to sign a 10-year, 96,000-sq. ft office lease.
2 min read · 24 January 2013
