The Greenwich, Connecticut-based firm has entered into exclusive talks to buy the hotel group, which it would merge with its budget hospitality group, Louvre Hotels. The deal is expected to close on 26 June. Last week, Starwood floated a $500m debt vehicle to target distressed real estate.
2 min read · 21 January 2013
Two banks – one UK-based and the other from Bahrain – have combined to buy Milton Gate office block in the financial heart of London. UBS Global Asset Management is the seller.
1 min read · 21 January 2013
The firm’s green property fund has acquired an office in Edinburgh from Hermes Property Unit Trust for £23.9 million. The strategy of the fund is to work with occupiers to improve sustainability and reduce operating costs.
1 min read · 21 January 2013
Lending by active financial institutions declined by $15bn between 2007 and 2008, according to Cushman & Wakefield Sonnenblick Goldman. Life companies have moved to fill some of the capital void but their 2009 originations will be 20% down on 2008 levels.
2 min read · 21 January 2013
Terri Herubin has joined the New York-based placement agent as principal. Herubin was formerly head of acquisitions for the New York State Teachers’ Retirement System.
1 min read · 21 January 2013
The listed property vehicle has acquired a distribution unit in England for £19 million.
1 min read · 21 January 2013
Seven key takeaways from the PERE Forum Europe, convened in London this week.
3 min read · 21 January 2013
Denmark’s largest pension fund is to planning to mitigate future risk by committing its equity in smaller portions to more smaller funds as well as participating in “club style” investments. These themes were also voiced at this week’s PERE Forum: Europe in London.
1 min read · 21 January 2013
The global private equity firm will invest A$65m for a stake of 18% in the Australian waste management company and the remaining A$735m will be raised via an entitlement offer.
2 min read · 21 January 2013
As the balance of power swings from GPs to limited partners, fund managers in New York today predicted investors would call for shorter investment periods for PERE funds in a bid to boost their liquidity. In the search for capital sources though, GPs were advised to watch super and high-net-worth individuals "closely".
2 min read · 21 January 2013
