Michael McNamara will lead the Philadelphia-based firm’s acquisitions and dispositions group, after Trecap took over Capmark Investments’ real estate funds business.
2 min read · 24 January 2013
Morgan Stanley Alternative Investment Partners raised $370 million for its latest secondaries vehicle – Morgan Stanley AIP Phoenix Global Real Estate Secondaries – 30 percent more than its original target. Joseph Stecher, head and chief investment officer of AIP real estate fund of funds, talks about the fundraise, the fund’s strategy and the “enduring” focus on NAVs.
3 min read · 24 January 2013
Heikki Westerlund, Capman CEO since 2005, will next month make way for Lennart Simonsen, a former M&A lawyer.
2 min read · 24 January 2013
The US federal government will rent upwards of 5m sq. ft. of space in the Washington DC area alone this year, more than the total public and private demand across the rest of the country. However, starting in mid-2011 a period of ‘austerity’ will begin.
2 min read · 24 January 2013
The New York-based real estate firm is reportedly teaming up with F&C REIT to buy a Dublin shopping centre from Aviva Investors and Grosvenor. In February, AREA teamed up with PMB to buy a London office property for $52.9m.
2 min read · 24 January 2013
The Blackstone Group has bought a 60% stake in two shopping centres in Portland, Oregon and Tampa, Florida, from US REIT Glimcher Realty.
1 min read · 24 January 2013
Merlin Entertainments, the theme park operator acquired by The Blackstone Group for $2.5 billion in 2005, is to develop a Legoland park in Florida.
1 min read · 24 January 2013
A pilot scheme would allow the conversion of up to 50% of an RMB fund from foreign currency, removing a huge hurdle facing foreign investors seeking access to China's private equity market.
3 min read · 24 January 2013
The European shopping centre developer, 75 percent owned by Morgan Stanley, has sold 15% of its assets to fellow Dutch property company, Corio.
2 min read · 24 January 2013
The backing of only the strongest property owners by tenants and brokers – due to concerns over the health of potential landlords – is leading to a split in US, particularly New York's, property markets between the healthy and weak.
2 min read · 24 January 2013
