Morgan Stanley Real Estate Funds have pledged to pump millions of extra dollars into Songbird Estates, alongside Qatar Holdings, CIC and Simon Glick, in a bid to prevent the property company from failing. Songbird is hoping to raise more than £800m in equity from a new share issue.
2 min read · 21 January 2013
The London-based property fund manager is reportedly targeting the British real estate market with its UK Value Fund. The firm has raised £90m to date.
1 min read · 21 January 2013
The $123.8bn California pension plan took a 50% write-down in its value-added/opportunistic real estate investments in the year to 31 March 2009. The pension has completely written off its equity in some funds, while others are currently reporting IRRs of more than -100%.
2 min read · 21 January 2013
Prudential Real Estate Investors has disposed of a 570,000-sq-ft office to US REIT KBS. It comes as the real estate investment firm also repaid $145m of a $616m credit facility with JV partner Kimco Realty.
2 min read · 21 January 2013
The US banking regulator scaled back its proposed rules, easing certain requirements that had attracted industry criticism including Tier 1 leverage ratios.
4 min read · 21 January 2013
The Alabama firm says it has acquired property from Segro, the UK REIT which took over fellow industrial property company Brixton recently. It closely follows a deal in June to buy a batch of UK warehouses from ProLogis.
1 min read · 21 January 2013
Patricia Gerrick has resigned for undisclosed reasons after driving the state pension exposure to real estate and private equity to 5% respectively. The pension lost 14% of its value in the past year.
2 min read · 21 January 2013
After a joint bid by Delancey and Citigroup threatened to derail Max Property Group’s efforts to buy a £232m industrial portfolio, the London-listed firm has received assurances that the deal will still go through.
1 min read · 21 January 2013
Emerging markets giant Actis is adjusting to life after the closing of its $2.9bn third fund by building up its IR and communications teams.
2 min read · 21 January 2013
The buyout firm's first US deal is for Everpower Wind Holdings, which it has purchased from renewable-focused Good Energies.
1 min read · 21 January 2013
