The Joint owners of New England’s tallest tower have lured private investment firm Bain Capital to take up to 270,000 square feet of office space on a 15-year lease. The letting brings the occupancy rate of the 1.8m square foot Boston skyscraper to about 95%.
2 min read · 24 January 2013
A study of US CMBS deals reveals that more than 3,500 loans currently have debt service coverage ratios of 1.0x or less. That figure could quickly grow to $75bn as less than half the CMBS universe has reported 2009 financials.
3 min read · 24 January 2013
The $8.2bn Los Angeles City Employees’ Retirement System will invest 90% of its portfolio in closed-ended commingled funds, primarily with core and value-added managers.
2 min read · 24 January 2013
A Starwood Capital-led consortium is reportedly nearing a deal to receive $2.2bn in financing from Goldman Sachs for a bid to acquire bankrupt hotel chain Extended Stay.
2 min read · 24 January 2013
The 18-year servant of Schroder Property, who was responsible globally for its property products, has resigned to pursue other opportunities
1 min read · 24 January 2013
Property markets in the US have not corrected, despite the high prices gained in some recent landmark deals. However, fund managers are in danger of investing capital ‘out of sheer boredom of not doing deals’.
2 min read · 24 January 2013
The Canada Pension Plan Investment Board has acquired a 45% interest in the McGraw Hill building from SL Green for roughly $576m and acquired another 45% stake in the REIT’s recent purchase of 600 Lexington Avenue for approximately $87m.
2 min read · 24 January 2013
Qatar Holding, the direct investment division of the Qatar Investment Authority, has purchased the world famous Harrods store in London for £1.5 billion. The purchase is part of a wider strategy to aquire "prestigious top performing businesses".
1 min read · 24 January 2013
Benjamin Young, the former chief investment officer of RREEF’s opportunity funds, has joined Strategic Value Partners as global head of real estate. SVP has also hired Georg Strassner, formerly with Morgan Stanley subsidiary Argoneo.
2 min read · 24 January 2013
Leon Shahinian, the 12-year pension veteran described as ‘honest’, has been placed on leave after allegations he failed to disclose a lavish trip paid for by placement agent Alfred Villalobos.
4 min read · 24 January 2013
